Kia 'EV1' will be a bargain electric Picanto successor to challenge BYD Dolphin and Hyundai Inster by end of the decade: Report

Kia is planning to offer a cut-price electric successor to the Picanto, potentially called the EV1. 

It won’t happen until the end of the decade, though, with Kia president Ho-sung Song telling British magazine Autocar of the difficulties of producing cheap cars today. 

Song revealed an electric Picanto succesor was the “next, next target” to Autocar, with the brand targeting a sub-€20,000 (A$33,000) eventually. Additionally, a Stinger GT halo model replacement is also under study. 

In the interim, a slightly larger Rio-sized EV2 electric car costing less than €30,000 (A$49,000) is Kia’s next conquest. The timeline for production is around 2026.  

“This is what we’re preparing to offer customers. Still, we think we need sub-€25,000 (sub-£21,070) in our EV cars and maybe we can leverage around €20,000. But that cannot happen in the next two years,” Song told Autocar. 

Song said competing in the micro car segment was “very difficult, very challenging” no matter if you’re working on an electric vehicle or combustion car. That rings true in Australia, certainly, where the number of rivals has dwindled. 

Only the Kia Picanto remains in Australia's 'Micro' class after the Fiat 500 combustion car and Mitsubishi Mirage bowed out. Other light cars, or ‘superminis’ to the British, are climbing in price, these include the likes of the Suzuki Swift, Toyota Yaris and MG3.  

As for Australia, local Kia executives previously cautioned the brand isn’t going to compete on price alone with cheaper Chinese rivals such as the BYD Dolphin and GWM Ora. However, it has not said it isn’t interested in more affordable models. 

Hyundai is gearing up to introduce its cut-price Venue sized Inster in the first quarter of next year for under $40,000. Kia doesn’t have an immediate answer to that vehicle, though will introduce the Kia EV3 in the second quarter of next year, possibly priced below A$50,000. 

At the opposite end of the spectrum, Song admitted to AutoCar a Stinger flagship-type vehicle “is under study,” telling the outlet a halo strategy is important for brand building. “What kind of model can help build the brand? This is what we are now studying.”

Kia also promised that solid-state batteries are in development, like BYD, Mercedes-Benz, MG, Nissan and Toyota, though has not revealed when they will make production.