Kia has thrown down the gauntlet to Tesla’s dominant Model Y electric SUV, unveiling a new model that is expected to be roughly $5000 cheaper than the market leader.
The new EV5 will be built in China, helping Kia to cut its production costs and be more competitive on price.
Tesla’s Model Y and Model 3, as well as BYD’s popular Atto 3, are all built in China.
Tesla dominates the Australian electric vehicle market, accounting for more than half the EVs sold last year.
Mainstream makers such as Kia and Hyundai have been unable to match Tesla’s pricing and as a result have sold in small volumes.
But the new EV5, the first Chinese-built Kia sold in Australia, is expected to have a drive-away price of less than $70,000 when it launches in June.
Kia engineer Graeme Gambold s...
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