Kia takes on Tesla: 2024 Kia EV5 confirmed for mid-year launch – and the electric SUV could be cheaper than the Tesla Model Y!
Kia’s cheapest EV-branded electric vehicle has been confirmed for a mid-year launch in Australia, with the EV5 to sit below the EV6 and EV9 in the brand’s lineup.
Like its bigger brothers, the EV5 will touch down in three trim levels – entry-level Air, middle-order Earth and top-spec GT-Line – and its’ understood the brand is targeting a price point that would wrestle buyers out of Australia’s top-selling electric vehicle, the Tesla Model Y.
That said, it won’t be as affordable as it is in China (though we will be sourcing our vehicles from the same factory) where the EV5 launched at just under 150,000 CNY, which is just over AUD$30,000.
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But increased specification requirements and import tariffs will see that number increase, with Kia expected to target the high-$50k to low-$60k range as a starting point.
That would significantly undercut its key competitor, the Tesla Model Y, which starts in Australia at $65,400. In fact, it could also see people climb up out of a BYD Atto 3, which starts at $48,011.
The EV5 is a mid-size electric SUV, about the same size as a Kia Sportage, and while we haven’t seen the Australia-ready version yet, we’ve been given some pretty big hints.
Kia had an EV5 Concept on display at the 2024 Australian Open in Melbourne, and says the production vehicle closely mirrors the concept, save for the rear-hinged rear “suicide doors”, in much the same way as the Kia EV9 Concept paved the way for the final product.
“You’ve seen the concept display. The doors won’t make production, just like with the EV9, for crash-worthiness and what have you,” says Kia Australia’s head of product, Roland Rivero.
“What’s good about our concept cars is the that they’re not meant to mislead anyone. We saw from EV9, the concept is very much the same as production, and the is is the same situation, if not closer even.”
The EV5 will also present a number for firsts for Australia, too. As mentioned above, it will be sourced from China rather than Korea, and while other EV products are rear-drive or all-wheel drive, the EV5 is a front-wheel drive vehicle in its single-motor trim.
Kia in Australia is yet to confirm specifics for our market, but internationally the EV5 story opens with a 64kWh battery and an approximate 500km driving range, before stepping up to an 88kWh model with a approximate 700km driving range. Single- and twin-motor variants are expected.
The Kia EV5 will launch in Australia by the middle of 2024.
