Kia plans to price EV3 below $40,000 in Canada — InsideEVs

Kia plans to sell the EV3 electric vehicle in Canada at a starting price of less than $40,000. The model will cost $39,744, InsideEVs reports, citing Automotive News.

Bet on the affordable segment

Kia Canada Chief Operating Officer Elias El-Achhab said at the Automotive News Canada Retail Forum in Toronto that the company aims to become the country’s first affordable electric vehicle brand. According to him, the EV3’s price was not set specifically to compete with Chinese manufacturers, but to make the model competitive in the Canadian market.

El-Achhab also said that Kia approved the price before learning about the return of a $5,000 government rebate for electric vehicles.

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Competition with Chinese models

According to InsideEVs, Canada has scrapped the 100% tariff on Chinese electric vehicles. At the same time, only the first 49,000 vehicles imported during a year will be able to avoid the higher tariff. The exact prices of Chinese electric vehicles after their entry into the Canadian market have not yet been determined.

A Kia Canada representative believes that the affordable price of the EV3 does not increase risks for the brand. In his view, the model should offer buyers a better price-to-specification ratio. He also noted that the company needs to remain flexible given possible changes in government policy and competition.