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Report: Kia EV3 may be made in Mexico to hit $30,000 price

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The Kia EV3 electric SUV could be assembled in Mexico for the U.S. market, a move that could allow it to be eligible for a federal tax credit and hit a $30,000 price point, reports Korean Car Blog (via Electrek).

“Kia is developing a distinct North American model” of the EV3, to be built at the automaker’s factory in Monterey, Mexico, starting next year, according to the report. The North American version, codenamed SVm, is reportedly scheduled to start testing later this year.

Kia EV3

Kia EV3

Once production ramps up in the fourth quarter of 2025, Kia reportedly aims to produce up to 110,000 vehicles annually in Mexico, compared to the 100,000 target for the Gwangmyeong, South Korea, plant that launched EV3 production. That plant will serve both the Korean and European markets, according to the report.

Kia revealed the EV3 last month, with hints that some versions might return more than 300 miles of range. Earlier the automaker also suggested it would start around $35,000. It does in Korea start closer to $30,000—so this may be an attempt to get the price closer to that.

Kia EV3

Kia EV3

Kia would likely focus on EV tax credit eligibility, as that might potentially cut the effective price for many families around or below the $25,000 mark, including destination. Mexico-built EVs still qualify for the federal tax credit, and Mexico’s trade status would allow Kia to avoid import duties, Korean Car Blog notes.

It’s likely a difficult time for Kia to put together such a plan to make cost-conscious EVs south of the border, however. Former president Donald Trump has proposed a 100% tariff on Chinese vehicles—EV or not—and he’s given some indication he’d like to further reel in those mostly free trade rules with Mexico established under NAFTA, if re-elected. He’s also reportedly offered to scrap Biden administration incentives—like the EV tax credit—in exchange for Big Oil campaign contributions.

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