Kia plans to launch a small, affordable electric car called the EV2 in 2026 that could cost less than $30,000.
The company held its first EV Day in South Korea this week, unveiling two new all-electric concepts in the form of the EV3 SUV and the EV4 sedan. It also confirmed details of the production version of the EV5, its upcoming mid-size SUV.
If you include the recent EV9 launch, which sits at the very top of a tempting electrified package, that’s four new EVs hitting the road in the next two years.
However, Kia’s CEO Song Ho-Sung also stated plans to launch an even smaller EV2 that would slot under the EV3 model. In addition, Kia’s plant in Žilina, Slovakia, which currently produces the Ceed and Sportage models, is already set up to produce them.
Despite having no concept car or footage to show that day, Kia confirmed that the EV2 would go on sale in 2026 for under $30,000, making it the most affordable model in its upcoming range; no mention of UK prices was made, but a direct conversion would be around £24,300.
The South Korean company has already stated that it plans to develop special electric vehicles numbered 1 to 9 over the next five years, which will allow it to reach a total of 1.6 million electric vehicles by 2030. So we can expect an even cheaper, smaller version. model – called EV1, of course – which will be unveiled in the near future.
With the new EV3 concept covering the small SUV category (or B-segment, for UK and European customers), and the EV4 being a mid-size sedan, it could indicate that the EV2 will be a smaller compact crossover (or CUV) will be. It will likely run on Kia’s dedicated E-GMP electric vehicle platform and may be similar in size to the current Ceed – a popular and hotly contested segment among European customers – but with ubiquitous SUV styling cues.
While it appears the EV2 will head to Europe first, it will likely be imported to the US in the future, where the current cheapest model from Kia or parent company Hyundai is the now relatively dated Kona Electric SE. That has a maximum range of 400 kilometers, while the small Chevrolet Bolt EV takes the crown of the most affordable American EV with a range of $27,495 and offers a range of 400 kilometers. But the latter is small and probably a more natural competitor to the upcoming EV1.
Early insight suggests this EV2 will offer more interior space, greater material refinement and greater electric range than both the Bolt and Kona, at a very competitive price.
Breaking down barriers
According to Kia CEO Song Ho-Sung himself, the two biggest barriers to mass EV adoption remain the charging network and the price increase compared to ICE counterparts.
To tackle the charging network, in Europe Kia has partnered with Ionity to install 7,000 new chargers by 2025, while in the US it is part of an alliance, made up of six major OEMs, who have formed to install 30,000 chargers by 2030 .
This cheaper EV2 will also be a big backbone of future EV sales, allowing customers who may not have wanted to upgrade to a larger electric SUV to opt for a cheaper electric hatchback crossover instead.
According to May 2023 data from Kelley Blue Book, the average transaction for new electric vehicles was $55,000. That’s about $7,000 more expensive than the comparable ICE purchase. Releasing models that help bring the price down to $35,000 – or even below $30,000 – will only help increase the pace of EV adoption and help secure Kia as a major player in the EV market .