Kia Australia will soon launch the new EV5 fully electric midsize SUV, and the brand expects it will see a strong interest from fleet buyers as well as private customers.
The new electric SUV, which is similar in size to the popular Sportage model, is to be sourced from China – a first for any Kia in Australia.
As such, the South Korean brand says it will leverage cost advantages to make the EV5 its first electric model with a broader, mainstream appeal, whereas its previous EV offerings – the Korea-sourced EV6 crossover, EV9 seven-seater and Niro small SUV – have had the odds stacked against them due to supply constraints and pricing.
Indeed, the brand has suggested it is aiming for a starting price in the high-$50,000 range for the EV5, and that there’s a target for up to 10,000 sales of the EV5 in Australia per year.
Dennis Piccoli, Kia Australia chief operating officer, said this is the first electric model with mega appeal for different buyer types.
“It’s our first mainstream player. It’s in that segment – medium SUV – that’s the biggest segment of the market. That’s a growing segment, EV sales have really started to grow there,” said Mr Piccoli.
He said that fleet customers will be drawn to the zero-tailpipe-emissions SUV due to its pricing, practicality and positioning in the market. If the mooted high-$50K starting price is realised, that’ll make it a small step up from a Sportage hybrid SUV, for example.
“It is a pivotal point for us – this is where we’re really starting to get serious with the EV product that we think will resonate in the market given the configuration we’ve put together. So we think it will go well in that private space, as well as in the fleet world.
“I think there’s certainly government and corporates, that definitely are looking to go green,” said Mr Piccoli. “And so there is a lot of chatter out there – there’s certainly some latent demand – particularly since we have a pretty solid distribution network around the country. So I think it should hit the ground pretty well.
“Volume-wise, we think in time, we’ll get it up to around 10,000 per year. That’s the current thinking, all going well. So it is a very important product for us moving forward,” he said.
The EV5 range is set to be offered in three trim grades – the entry-level Air, mid-spec Earth and high-grade GT-Line, with the lower-spec models on sale mid-year, and the flagship due to arrive late in 2024.
Separating it from the EV6 and EV9 is the fact the EV5 will be built on a 400-volt EV architecture, which will limit its fast-charging capacity. Exact specs are still to be confirmed, but what has been locked in is the use of BYD battery technology, meaning LFP chemistry and the potential to charge to 100 per cent more regularly without degradation, making the car a great fit for fleet operators.
The brand has confirmed there will be a Standard Range 64kWh model alongside a Long Range version with an 88kWh battery pack. The amount of driving range on offer is still to be confirmed, but the lenient Chinese CLTC range testing states up to 530km for the base battery and up to 720km for the long-range version.
Full details are still to be confirmed, but Kia has advised that there will be versions offered with a single electric motor and front-wheel drive (160kW output), as well as a dual-motor layout with all-wheel drive (230kW output).
Expect pricing and specifications for the Kia EV5 to be confirmed in the coming months.
