Connect with us

Cars & Concepts

Kia Targets $30,000 Price Point with Mexico-Assembled EV3 for U.S. Market Amid Tax Credit Strategy



According to Korean Car Blog, as reported by Electrek, there is a possibility that the Kia EV3 electric SUV will be manufactured in Mexico for the American market. This strategy might enable the vehicle to qualify for a federal tax credit, potentially setting the sale price at $30,000.

Kia is in the process of creating a unique model of the EV3 specifically for the North American market, which will be manufactured at the company's plant in Monterey, Mexico, commencing from the following year, as per the report. The model, with the internal designation SVm, is expected to enter the trial phase sometime later this year.

Kia's Electric Vehicle Model

Kia is said to be planning an increase in vehicle production in Mexico, where it hopes to manufacture as many as 110,000 vehicles each year starting in the last quarter of 2025. This figure surpasses the initial production goal of 100,000 vehicles at the Gwangmyeong facility in South Korea, where the EV3 model began production. The South Korean plant is expected to cater to the demands of both the local and European markets, the report suggests.

Last month, Kia unveiled the EV3 and teased the possibility of certain models achieving over 300 miles on a single charge. Previously, the car manufacturer hinted that the starting price would be in the vicinity of $35,000. However, in Korea, pricing begins at approximately $30,000, indicating that there could be efforts to align the prices more closely.

Kia's Electric Vehicle Model

Kia is expected to concentrate on qualifying for electric vehicle (EV) tax credits which could potentially reduce the net cost for numerous households to approximately $25,000 or even lower, destination charges included. EVs manufactured in Mexico are eligible for the federal tax credit, and due to Mexico's trading position, Kia would not be subject to import taxes, as pointed out by Korean Car Blog.

Kia might be facing challenges in developing a strategy to produce affordable electric vehicles in the area below the US border. Ex-president Donald Trump had suggested imposing a double tax on all vehicles from China, electric ones included. Furthermore, if he wins the election again, he's hinted at tightening the largely unrestricted trade agreements with Mexico that were set up through NAFTA. Additionally, there are rumors that he's willing to eliminate incentives introduced by the Biden administration, such as the tax credit for electric vehicles, in return for financial support from major oil companies for his campaign.



Spread the Word About This Piece:

Reach Out to the Editor:

Stay Updated with Us:

Subscribe to the Green Car Reports Newsletter

Register to receive daily updates on the newest eco-friendly vehicles and environmental reports straight to your email!

I consent to getting email communications from Green Car Reports. I acknowledge that I have the option to opt out of these emails whenever I choose. Privacy Policy.

The E-Tron GT continues to be a counterpart to the Porsche Taycan, aiming to enhance its performance on the open road as Audi's highest-performing vehicle.

Volvo has scrapped its most fuel-efficient hybrid model. There's speculation that Kia is considering Mexico as the production site for its new budget-friendly electric vehicle. Fisker has faced a downfall with its Ocean model. Additionally, there's a question of why EV usage isn't more prevalent in the U.S. We've got all this news and more here at Green Car Reports. Fisker, an electric vehicle company based in the U.S., has declared bankruptcy…

The reasons behind the United States deviating from the trends seen in numerous other electric vehicle markets are not well understood, but low gasoline prices and worries about the availability of charging stations could play a significant role.

The assets of Fisker are set to be auctioned following the firm's announcement of insolvency earlier this week.

Volvo has confirmed that the American models of its S60 sedan, along with the S60 Recharge – the plug-in hybrid with the best fuel economy and the longest electric driving distance – will cease production in South Carolina and will not be brought in from overseas.

The recent excitement among Tesla investors has yielded updates on their products and batteries. Meanwhile, despite critics of electric vehicles consistently pointing to price as a deterrent, the market is seeing a stabilization in the prices of new electric vehicles and a notable dip in the cost of pre-owned models. Stay tuned for further details here at Green Car Reports. We…

Even though there has been a consistent decrease in the selling prices of new electric vehicles over time, 60% of Americans still consider the expense a major obstacle to purchasing an EV.

An evaluation of advertised prices suggests that a pre-owned Tesla Model 3 typically costs less than a BMW 3-Series of a similar age.

What methods are BMW and VW implementing with artificial intelligence in their electric vehicles? What's prompting legislators to challenge the role of electric vehicles in the criteria for fleet efficiency? We recap the past week's events at Green Car Reports, covering the period up to June 15, 2024, in our weekly review, The Week In Reverse. Green Car Reports has recently delivered its initial…

The 4680 batteries produced by Tesla have not lived up to the promises made during their 2020 Battery Day presentation, which included cutting battery costs by 50% and positioning Tesla as a provider

During the yearly gathering of the company's investors, Chief Executive Officer Musk highlighted the importance of

Associated Content

Top Picks

Image Gallery





Connect With Us Now:

Discover more from Automobilnews News - The first AI News Portal world wide

Subscribe to get the latest posts sent to your email.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Cars & Concepts1 hour ago

Musk’s Ultimatum: Fix 4680 Battery Woes or Tesla’s Project Faces the Axe

F12 hours ago

Drama Unfolds: Norris Grabs Pole as Tsunoda Crashes in Thrilling Hungarian GP Qualifying

F13 hours ago

McLaren Under Fire: Top Management Fumes Over Costly F1 Blunders Amid Growing Internal Pressure

F13 hours ago

Under Pressure: Sergio Perez’s Hungarian GP Qualifying Crash Intensifies Red Bull Scrutiny

Automakers & Suppliers3 hours ago

Unveiling Ferrari’s Cutting-Edge Innovations: A Deep Dive into the Supercar Icon’s Latest Technologies and Developments

F14 hours ago

McLaren Dominates: Norris Takes Pole, Piastri Secures P2 in Thrilling Hungarian GP Qualifying

F14 hours ago

McLaren Locks Out Front Row in Hungary as Perez’s Struggles Continue

F15 hours ago

George Russell Fumes Over ‘Fundamental’ Mercedes Blunder Leading to Q1 Exit at Hungarian Grand Prix

F15 hours ago

Front-Row Triumph for McLaren: Norris and Piastri Lead the Starting Grid at 2024 Hungarian Grand Prix

F16 hours ago

Underperformance Blues: Toto Wolff Slams Mercedes’ Qualifying Woes at Hungarian GP

Moto GP6 hours ago

Captain Abandons Ship: Aleix Espargaro’s Loyalty Questioned as He Jumps from Aprilia to Honda

Automakers & Suppliers6 hours ago

Unveiling Lamborghini’s Latest Innovations: The Pinnacle of High-Performance and Luxury in Italian Supercars

F16 hours ago

Struggling to Adapt: Lewis Hamilton Opens Up About Frustrations with F1’s New Generation Cars

Moto GP6 hours ago

Pramac-Ducati Split: Competitiveness Sparks ‘Cracks’ Leading to Yamaha Alliance

F17 hours ago

Defiant Perez Sees ‘Light at the End of the Tunnel’ Amid Red Bull Woes and Future Speculation

Moto GP7 hours ago

Pedro Acosta’s Quest for Answers: KTM HQ Visit to Revitalize MotoGP Season

Moto GP7 hours ago

VR46 Eye Franco Morbidelli for 2024: Shifting MotoGP Landscape Could Reunite Old Friends

Moto GP8 hours ago

KTM’s ‘Tough Love’: Vinales Set for Shake-Up After Aprilia’s Patience

Moto GP2 months ago

Enea Bastianini’s Bold Stand Against MotoGP Penalties Sparks Debate: A Dive into the Controversial Catalan GP Decision

Sports2 months ago

Leclerc Conquers Monaco: Home Victory Breaks Personal Curse and Delivers Emotional Triumph

Moto GP2 months ago

Aleix Espargaro’s Valiant Battle in Catalunya: A Lion’s Heart Against Marc Marquez’s Precision

Moto GP2 months ago

Raul Fernandez Grapples with Rear Tyre Woes Despite Strong Performance at Catalunya MotoGP

Sports2 months ago

Verstappen Identifies Sole Positive Amidst Red Bull’s Monaco Struggles: A Weekend to Reflect and Improve

Moto GP2 months ago

Joan Mir’s Tough Ride in Catalunya: Honda’s New Engine Configuration Fails to Impress

Sports2 months ago

Leclerc’s Monaco Triumph Cuts Verstappen’s Lead: F1 Championship Standings Shakeup After 2024 Monaco GP

Sports2 months ago

Leclerc Triumphs at Home: 2024 Monaco Grand Prix Round 8 Victory and Highlights

Sports2 months ago

Perez Shaken and Surprised: Calls for Penalty After Dramatic Monaco Crash with Magnussen

Sports2 months ago

Gasly Condemns Ocon’s Aggressive Move in Monaco Clash: Team Harmony and Future Strategies at Stake

Business2 months ago

Driving Success: Mastering the Fast Lane of Vehicle Manufacturing, Automotive Sales, and Aftermarket Services

Business2 months ago

Shifting Gears for Success: Exploring the Future of the Automobile Industry through Vehicle Manufacturing, Sales, and Advanced Technologies

Business2 months ago

Driving Success in the Fast Lane: Mastering Market Trends, Technological Innovations, and Strategic Excellence in the Automobile Industry

Tech2 months ago

Driving the Future: Exploring Top Innovations in Automotive Technology for Enhanced Safety, Efficiency, and Connectivity

Business2 months ago

Driving Success: Mastering the Automobile Industry with Key Insights on Vehicle Manufacturing, Automotive Sales, and Beyond

Business2 months ago

Hong Kong’s Ambitious Leap: The City’s Strategic Roadmap to Becoming a Global Innovation and Tech Hub

AI2 months ago

Revolutionizing the Future: How Leading AI Innovations Like and Are Redefining Industries

Tech2 months ago

Revving Up the Future: Top Automotive Technology Trends Driving Sustainability, Safety, and the Electric Revolution


Get ready for a groundbreaking shift in the world of artificial intelligence as the V12 AI Revolution is on the horizon


Business NEWS



Chatten Sie mit uns

Hallo! Wie kann ich Ihnen helfen?

Discover more from Automobilnews News - The first AI News Portal world wide

Subscribe now to keep reading and get access to the full archive.

Continue reading