Home » Business » Kia Ray EV: Dominating Electric Vehicle Sales and Subsidies in Korea

Kia Ray EV: Dominating Electric Vehicle Sales and Subsidies in Korea

Ray EV won, 27.35 million to 29.55 million

EV subsidy won 5.56 million ~ 13.56 million

Electric cars and compact cars are a ‘perfect match’

Kia Ray EV is driving the popularity of electric vehicles [사진출처=기아]

Kia Ray EV topped domestic electric vehicle sales despite its expensive price tag of nearly 30 million won and the shrinking electric vehicle market.

As a result of the analysis of the sales performance of five domestic manufacturers in the first quarter of this year (January to March) on 21st, 2,442 Ray EV units were sold.

It ranks first among domestic passenger electric vehicles. Hyundai Motor Company’s Ioniq 5 followed with 2,120 units, Torres EVX KG Mobility with 1,870 units, Kia EV6 with 1,459 units, and Hyundai Ioniq 6 with 1,038 units.

Ray EV was second in the total passenger electric vehicle market, after Tesla Model Y, which sold 6,012 units.

The secret is to rank #1 in sales among domestic passenger electric vehicles

Kia Ray with good use of space [사진촬영=최기성 매경닷컴 기자]

Ray EV is so popular that the waiting time for shipments is as long as three months.

The secret to its popularity lies in its high cost efficiency (price-performance ratio). This looks amazing because the price before getting a subsidy is almost 30 million won.

The price of Ray EV is between 27.45 million and 29.55 million won. If you choose the full option, it costs 30.8 million won. It has surpassed the level of a cheap compact car.

The fully optioned model costs nearly 20 million won, making it more expensive than the gasoline model, for which people sarcastically asked, “Who would buy a compact car for that money?”

Subsidies reduce the price burden. The national subsidy is won 4.52 million. Including local government subsidies, it can be bought for about 20 million won.

The total subsidy is 5.56 million won in Seoul, 6.6 million won in Incheon, 7.1 million won in Gwangju, 6.57 million won in Daegu, and 6.16 million won in Busan . When you buy a Ray EV in Ulleung, Gyeongsangbuk-do, where subsidies are the highest, you will get a subsidy of 13.56 million won.

Kia Ray EV 2-seater van [사진출처=기아]

The assessment that electric vehicles are a good match for compact cars also contributes to the Ray EV’s popularity. Compact cars are the preferred model in the second car market.

This is because it has excellent fuel efficiency, short driving range, and easy parking. When combined with electric vehicles, the advantages of compact cars become clearer. Even if the driving distance on one charge is short, it is not a big problem.

Ray EV uses a 35.2kWh lithium iron phosphate (LFP) battery and a front cover for the battery that improves aerodynamic performance.

Kia Ray EV [사진출처=기아]

Driving range on a single charge is 205km combined and 233km in the city. It is not enough to use it for commuting or walks in the surrounding area.

Based on a 150kW fast charger, it takes 40 minutes to fill the battery from 10% to 80% capacity. Based on a 7kW slow charger, it takes 6 hours to go from 10% to 100%.

In addition, Ray EV is classified as a light electric vehicle and is exempt from individual consumption tax, education tax, and acquisition tax, and individual businesses and corporations can also receive value-added tax refunds.

You can also save more on maintenance costs. The more you drive, the more money you save.

Kia Ray EV interior [사진출처=기아]

Currently, the ‘electric car movement’ that Tesla inspired has stalled. This is due to a combination of high prices, lack of charging infrastructure, and meeting initial demand.

In the global car market, small and medium electric vehicles with better cost efficiency have emerged as a hot topic.

Kia highlighted the potential for success as a ‘cost-effective electric vehicle’ with the Ray EV.

With growing confidence, Kia set a goal to launch EV3, a cost-effective model, this year to expand consumer choice and drive the popularity of electric vehicles.

2024-04-21 22:15:00
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