10:47 25-08-2025

KIA Europe CEO: Affordable €20,000 EVs Are Not Viable

While European carmakers like Renault, Stellantis, and Volkswagen prepare budget EVs priced around €20,000, KIA is moving in the opposite direction.

Marc Hedrich, CEO of KIA Europe, stated that it is not currently possible to sell a €20,000 electric car without financial losses. He added that even a €22,000 price point would demand major compromises. Instead, KIA will focus on the upcoming EV2, a small SUV expected to start around €30,000 when it launches in early 2026.

Meanwhile, competitors are pushing aggressively into the affordable EV space. Citroën will release the ë-C3 Urban Range later this year with about 200 km WLTP range. Renault will launch its new Twingo in 2026, priced from €18,000, followed by the new Dacia Spring and Nissan Pixo. Volkswagen is preparing its ID.1 for 2027, targeting over 250 km range.

KIA’s strategy prioritizes profitability and higher-segment EVs, leaving rivals to fight over the ultra-competitive budget electric car market.