Kia unveiled a compact electric sport-utility vehicle and two concept EVs as it builds out a range of cheaper models to appeal to budget-conscious drivers.
Kia's EV5, pitched at millennial families, made its debut at a so-called EV Day on Thursday. For the Chinese market, the standard model will come with a 64-kilowatt-hour battery offering 530km of range, while the long-range model’s 88-kilowatt-hour battery will get 720km per charge.
The South Korean models will have slightly smaller batteries and the driving range will be tailored to market demands, the company said.
The EV5 comes with two 31cm screens for instrument displays and infotainment, and a 12.7cm climate control display.
The Chinese version will have a front bench seat, while the rear seat can be folded flat to transform into a bed.
There is also a 4-litre refrigerator and warming unit for storing food and drinks. The cars will be made at factories in China and Korea, with production starting around 2025.
Kia also displayed two concept cars – the EV3, a compact version of its flagship EV9; and the EV4, a four-door sedan that looks more like a sports car.
The three models are part of Kia’s plan to introduce smaller EVs ranging in price from $35,000 to $50,000 to accelerate the widespread adoption of battery-powered cars, the company said. Top-end models will go for up to $80,000.
Kia last month introduced its cheapest EV – the single-seat Ray, which starts at $20,000 and is only available in South Korea.
Tesla started selling its Chinese-made Model Y SUV in Korea earlier this year, priced from about 57 million won ($42,550). With government subsidies, the price drops to about $37,000 in Seoul and as low as $30,000 in some cities that offer extra incentives for EVs.
Smaller EVs are Kia’s “entry to the segment of customers” looking for electric cars with lower prices and charging convenience, chief executive Ho Sung Song told reporters at the EV Day, held in Yeoju city, south-east of Seoul. The car maker aims to sell 1.6 million EVs by 2030.
To meet that target, Kia plans to have eight production facilities by 2025. In Europe, the company will focus on making small- and medium-size EVs, while it will produce mid- and large-sized vehicles in China.
In India, it will focus on “strategically designed EV models tailored for emerging markets”, Mr Ho said, without elaborating.
Kia has to study “very deeply” how to cut EV prices further, he said.
“This is very important for us; how we can make the vehicles below around $25,000 in the market.”
“Maybe in the future, we need some different sales strategies,” such as selling vehicles without a battery, which buyers can then rent, he said.
Prices of batteries, the most expensive part of an EV, are expected to fall to $99 per kilowatt hour by 2025 as technology improves and new lithium reserves are developed, according to an October 4 report by Goldman Sachs Group analysts led by Kota Yuzawa.
He upgraded Kia’s stock to a buy on improving margins as battery costs decline.
Kia and affiliate Hyundai Motor sold about 374,000 EVs in the first eight months of 2023, ranking seventh globally, according to a report from SNE Research.
Their combined market share of the global EV market, including electric and plug-in hybrid vehicles, has fallen to 4.3 per cent this year from 5.4 per cent in 2022, due to the strong growth of China’s BYD, the research group said.
Mr Ho said Kia may introduce a compact model EV2 in Europe. The EU has started an investigation into China’s EV subsidies, which could result on tariffs being imposed on made-in-China cars and potentially benefit the South Korean firm.
“EV2 is very unique, very important model for European market,” he said. “EV2 is very European style and it will be produced in Europe.”
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So what is Spicy Chickenjoy?
Just as McDonald’s has the Big Mac, Jollibee has Spicy Chickenjoy – a piece of fried chicken that’s crispy and spicy on the outside and comes with a side of spaghetti, all covered in tomato sauce and topped with sausage slices and ground beef. It sounds like a recipe that a child would come up with, but perhaps that’s the point – a flavourbomb combination of cheap comfort foods. Chickenjoy is Jollibee’s best-selling product in every country in which it has a presence.
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Jetour T1 specs
Engine: 2-litre turbocharged
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Argentina 0 Croatia 3
Croatia: Rebic (53'), Modric (80'), Rakitic (90' 1)
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In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
The UAE squad for the Asian Indoor and Martial Arts Games
The jiu-jitsu men’s team: Faisal Al Ketbi, Zayed Al Kaabi, Yahia Al Hammadi, Taleb Al Kirbi, Obaid Al Nuaimi, Omar Al Fadhli, Zayed Al Mansoori, Saeed Al Mazroui, Ibrahim Al Hosani, Mohammed Al Qubaisi, Salem Al Suwaidi, Khalfan Belhol, Saood Al Hammadi.
Women’s team: Mouza Al Shamsi, Wadeema Al Yafei, Reem Al Hashmi, Mahra Al Hanaei, Bashayer Al Matrooshi, Hessa Thani, Salwa Al Ali.
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Engine: 1.5-litre turbo
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8.15pm: Handicap Dh210,000 (D) 1,200m
8.50pm: Handicap Dh210,000 (D) 2,000m
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Amith's predicted winners:
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Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Titanium Escrow profile
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Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue
Stage: Early stage
Investors: Founder's friends and Family
Top New Zealand cop on policing the virtual world
New Zealand police began closer scrutiny of social media and online communities after the attacks on two mosques in March, the country's top officer said.
The killing of 51 people in Christchurch and wounding of more than 40 others shocked the world. Brenton Tarrant, a suspected white supremacist, was accused of the killings. His trial is ongoing and he denies the charges.
Mike Bush, commissioner of New Zealand Police, said officers looked closely at how they monitored social media in the wake of the tragedy to see if lessons could be learned.
“We decided that it was fit for purpose but we need to deepen it in terms of community relationships, extending them not only with the traditional community but the virtual one as well," he told The National.
"We want to get ahead of attacks like we suffered in New Zealand so we have to challenge ourselves to be better."
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In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
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- Senior drilling engineer: Dh38,000 to Dh46,000
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- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
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BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
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Transmission: 8-speed auto
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UAE currency: the story behind the money in your pockets
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
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Killing of Qassem Suleimani
