The “affordable EV” takes a blow as Kia decides to shelve the EV4’s US launch.
For years, one of the biggest barriers to entry for folks actually interested in buying an electric vehicle has been cost. Even with tax credits, the prospect of an affordable model — something along the lines of a gas-powered economy car — have been few and far between, to put it generously. The Kia EV4 promised to add another option to the arena as a rival to the Nissan Leaf and Tesla Model 3 Standard. Now, though, it is effectively scrapping its US launch, according to information initially posted by InsideEVs.
At least, that’s the case for now. Kia’s official stance is that the model is delayed “until further notice”. It could eventually make an appearance at American dealers, but “market conditions” are prohibiting that possibility for the foreseeable future.
What market conditions, exactly? The end of EV tax credits, which is already impacting the industry at-large for electric models already sold here, is just one factor. The South Korean-built EV4 wasn’t going to be eligible for the credit anyway, but buyers losing access to a $7,500 incentive may be putting them off the prospect of shopping an EV altogether. Beyond that, fluctuating import duties on cars imported from South Korea (which now sits at 15%, after being 25% throughout much of the year) is a much more direct impact on the EV4’s business prospects in the United States.
Kia’s decision to at least shelve the EV4 from a US market launch comes at a time when other EV plans are also being cancelled or dramatically changed. Acura, for example, canned the ZDX after just two model years, while Mercedes indefinitely paused EQ model production and Nissan scrapped the Ariya, after that crossover saw significant delays even getting to market in the first place. Now, there’s one fewer option for interested shoppers, be it for the more affordable base version or even a spicier EV4 GT, which may not make it over here after all.
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