In what Kia is calling “EV Festa,” the automaker is slashing prices on its all-electric models, including the EV6, EV9, and Niro EV in Korea, by up to $10,000 (KRW 13.56 million).
Kia cuts EV prices in South Korea
Kia revealed it will hold what it’s calling “EV Festa” to boost electric vehicle output and give additional benefits to shoppers.
The program is in line with new government subsidies for electric cars. Kia is offering big manufacturing discounts on some of its most popular electric vehicles, including the EV6, EV9, and Niro EV.
A Kia official said, “We have prepared special benefits in connection with government policy to expand the distribution of electric vehicles.”
Kia is offering KRW 3 million ($2,250) off the EV6, KRW 3.5 million ($2,620) off the EV9, and KRW 1 million for the Niro EV.
For those living in Jeju Special Self-Governing Province, where local subsidies were introduced last week, the purchase price difference is as follows.
| Kia electric model | New price (with subsidies) | Old price | Difference |
| EV6 Long Range (2WD 19″) | KRW 39.04 million ($29,300) | KRW 52.6 million ($39,500) | KRW 13.56 million ($10,200) |
| EV9 (2WD 19″) | KRW 65.19 million ($48,900) | KRW 73.37 million ($55,100) | KRW 8.18 million ($6,200) |
| Niro EV Air (2WD 19″) | KRW 38.08 million ($28,580) | KRW 48.55 million ($36,440) | KRW 10.47 million ($7,860) |
The new Kia EV in Korea prices include government subsidies of KRW 6.3 million ($4,730) on the EV6, KRW 3.01 million ($2,260) on the EV9, and KRW 5.81 million won ($4,360) on the Niro EV.
Jeju local government subsidies take off an extra KRW 3.87 million ($2,900) on the EV6, KRW 1.85 million ($1,400) on the EV9 and KRW 3.56 million ($2,675) on the Niro EV.
Small business owners or those working in agriculture, livestock, fisheries, and forest that buy a Bongo EV (electric pickup) are eligible for a KRW 700,000 ($525) charging discount or KRW 300,000 ($225) on the purchase price if no charger is selected.
Kia also set a deferral rate of up to 60% for 36 months and a maximum of 45% for 48 months when paying with a Hyundai M series card to lower the threshold to own an EV.
Top comment by Grant
Hyundai + Kia + Genesis sales in South Korea = 70%
Tesla 9%, BMW 6, Mercedes 5 %
So that price reduction seems a little aggressive no?
In the US, Kia’s first electric three-row SUV is already generating hype. After launching deliveries late last year, Kia handed over 1,118 EV9s in December and another 1,408 last month. Kia expects to sell around 2,000 EV9s monthly.
Kia’s three-row electric SUV features 42.8″ of rear legroom. That’s more than the Cadillac Escalade, 3-row Range Rover P400, and Mercedes EQS.
With starting prices under $55,000, Kia calls the EV9 a “wake-up call to the industry.” The large electric SUV is expected to play a key role in Kia’s shift to electric.
If you’re looking for deals on Kia’s electric cars in the US, we’ve got you covered. We can help you find great deals on Kia’s EVs at a dealer near you. Check out our links below to get started today.
FTC: We use income earning auto affiliate links. More.
Comments