[2024 Top Picks] Kia’s EV3 could be the best budget EV of 2024

Kia's EV3 concept car [KIA]

Numerous cheap electric vehicles are waiting to be released in 2024, and Kia's EV3 is at the top of our shopping list.

You might expect that EVs are always pricey, but that's not true — the spacious EV3 won't break the bank.

Kia expands affordable EV lineup with EV5, two new concepts

The five-seater SUV will be the cheapest EV option developed based on Kia’s EV-dedicated E-GMP modular platform.

Kia is slated to introduce the car within the first half of 2024.

The Kia EV3 will sport a typical Kia look, with slim headlights centered around the car's front sides and the company's logo emblazoned on the hood.

It seems like it will sport the same boxy look as the EV9 in a much smaller body. It, however, won't have rear-hinged back doors, contrary to the original concept design, Kia confirmed.

The interior of the EV3 offers a sleek and modern look, with a single large screen stretching across the front of the car.

EV3 reportedly will have 58 kilowatt-hours of lithium-ion battery and accommodates 400-volt charging, though the company has not confirmed specific specs.

But the EV3's most attractive feature is arguably its price. The car, colloquially referred to as the mini EV9, will cost just a third of its larger sibling's price.

MSRP is highly likely to start at some 40 million won ($31,000), which will allow Korean drivers to purchase it at the 30 million won range with the government's EV credits. That will price the product below the Niro EV, which starts at 51.14 million won.

The U.S. starting price tag is reported to be around $30,000. Global release dates are still to be announced.

When it comes to the vehicle's range, however, you should keep your expectations low. Kia is highly likely to equip the EV3 with lithium iron phosphate batteries, which will give it a shorter range than the EV6.

Hopefully the base configuration will offer at least 300 miles to a charge, with higher-range models available.

BY SARAH CHEA [chea.sarah@joongang.co.kr]