If there is one thing surrounding the world of electric vehicles, it is uncertainty. In 2023, Tesla’s Model Y was the world’s best-selling vehicle. Elon Musk’s company had few rivals capable of producing electric cars with good range and decent prices. Now, three years later, Tesla is not in such good shape. Its sales have fallen.
So has its stock price. And new competitors keep popping up from everywhere. First, it was the Chinese, with brands such as BYD, Xiaomi, Xpeng, and Zeekr. And now, the Koreans are joining the fray. Kia is preparing to make a splash with its EV4, a vehicle that fills the segment Tesla neglected by never launching a Model 2.
Tesla lets its guard down. And Kia surprises with the EV4
It comes as no surprise to say that the automotive market is in the midst of a correction. Analysts have failed. And politicians, as usual, have failed miserably. Forcing car manufacturers by law to transition to electric vehicles has not worked out well.
Many companies have spent millions on developments that have not translated into sales. Electric vehicles remain a complicated product for a large part of the world’s population. That is why many manufacturers have decided to take a step back and reinforce their commitment to their range of combustion cars.
Despite this, one brand that seems to be in good shape is Kia. This South Korean company, under the umbrella of Hyundai Motor Group, seems to have everything under control with its latest Kia EV4. The final version of this vehicle has already been shown to the public, although we have yet to see its technical specifications. Its designers have opted for a silhouette halfway between a traditional sedan and a crossover, which are currently so fashionable in Europe.
This is a design concept that Stellantis recently explored with models such as the Peugeot 408, which has impeccable aesthetics.
What does the EV4 offer to make it affordable?
The Kia EV4 uses Hyundai Motor Group’s modular electric platform, called E-GMP. However, it is a vehicle designed not to exceed the $35,000 barrier for the base model. In order to sell the car at that price and not lose money, analysts are clear that this car will forego some of the features already found in the Kia EV6 and Hyundai Ioniq 5.
The main difference is speculated to be in the charging system. While the higher-end models already use an 800-volt charging architecture, the EV4 is expected to be limited to 400 volts. This means that when charging the car on the road, you will be able to go from 10% to 80% of the battery range in 30 minutes, instead of 18.
On the other hand, experts believe that Kia will offer two different batteries for the EV4. The entry-level version could have an LFP (lithium iron phosphate) battery. These batteries are very durable and affordable. On the other hand, the Long Range versions would use NCM (nickel-cobalt-manganese) batteries. These more modern compounds would allow the EV4 to offer a range of around 300 miles, which is key to getting American drivers to buy an electric car.
Putting Tesla in a tight spot
The fact that the Kia EV4 is coming to the US is not good news for Tesla. This model is actually designed for the European market. While Tesla is focused on its Robotaxis and artificial intelligence, we are increasingly seeing that the brand has abandoned consumers who are willing to spend between $30,000 and $40,000 on an electric car.
Kia has been quick to seize the opportunity and will offer its EV4 in that price range. It is a product that they expect to outsell the Chevrolet Equinox EV and the Volvo EX30, precisely because it is perceived as a technological vehicle. What we don’t know for sure is whether Tesla will respond to this attack. For now, some analysts are beginning to worry about the company, which they believe is making the same mistakes that Kodak made in its day.