Kia EV9 poised to hit 50,000 unit mark in a year on strong exports

Kia Corp., South Korea’s No. 2 automaker, is poised to sell 50,000 units of its flagship all-electric sport utility vehicle EV9 within one year of its launch, on the back of strong exports and despite sluggish global demand for electric vehicles (EVs).

Kia had sold 48,291 units of the EV9 at home and abroad as of April, according to the company on Wednesday. The affiliate of the country’s top carmaker Hyundai Motor Co. introduced the model in June 2023.

The cumulative sales volume is likely to top the 50,000 unit mark by the end of May, as the company has sold on average 2,000 to 3,000 units a month of its second EV model, industry sources said.

Exports of the EV9 reached 39,309 units, making up 81.4% of the total sales volume during the 11-month period, with overseas sales of 12,211 units accounting for 92.9% of sales in the January-April period. During the four-month period, the company shipped 5,579 units of the EV9 to the US, the world’s No. 3 EV market where large SUVs are popular.

Meanwhile, Kia sold only 970 units of EV9 in Korea during the four months; sales were hindered by high sticker prices of up to 100 million won ($73,282) and quality issues.

WELL RECEIVED IN OVERSEAS MARKETS

“The EV9 has become an outstanding large electric SUV as it was well received in overseas markets, though its sales were sluggish at home due to the relatively higher price tag,” said an industry source in Seoul.

The EV9 has landed in the spotlight thanks to a driving range of 501 kilometers (311 miles) on a single charge with a 99.8 kilowatt hour (kWh) battery pack — the farthest among Kia EV models — a stylish design and large interior space.

Such features enabled the electric SUV to sweep major awards such as the 2024 World Car of the Year, helping Kia cope with slowing EV demand globally.

Last week, the Korean automaker premiered the EV3, its low-cost electric SUV, to reboot the EV industry by attracting budget-conscious drivers with cheaper models.

Write to Jae-Fu Kim at hu@hankyung.com
 
Jongwoo Cheon edited this article.