Up until now, there has been speculation about the pricing of the EV9, as Kia has yet to announce pricing for the United States. With deliveries commencing in Korea last week, the domestic pricing in Korea has been set at around $60,000. However, it's important to note that prices can fluctuate when cars are exported, making the European pricing a valuable indicator of the potential cost abroad.
According to the Belgian price list, the base model of the EV9, known as the "Earth launch edition," starts at €74,990, which is considerably higher than initial expectations. In Kia's typical fashion, the term "Earth" refers to the trim level, as the company often uses environmental terminology to designate its various trims such as "wave" and "wind." Notably, the only separately priced options mentioned in the list are swiveling second-row seats and the choice between metallic or matte paint. Additional customization options are available through the two trim levels, with the higher "GT Line" trim incurring an additional cost of €8,900.
However, it's important to consider certain factors when evaluating these prices. The figures provided include Belgian taxes, which currently stand at 21%. The pre-tax base price is €61,975, which translates to approximately $67,500 based on the current exchange rates. This estimation gives us a closer idea of what the pricing might look like in the United States for this upcoming SUV.
Nevertheless, it is worth noting that these prices pertain to the 99.8kWh "large battery" version. The pricing for the "standard" 76.1kWh version has not been disclosed yet. It is reasonable to assume that the standard version will come at a discounted rate compared to the larger battery model. For instance, the EV6 is available in 58kWh and 77kWh versions, with the 19kWh difference amounting to a $6,100 increase. Hence, the 23kWh discrepancy between the two EV9 models should result in a similar reduction in price.
Considering this, once the standard-battery model is released, its base price could be closer to $60,000 again. However, this remains more expensive compared to the pricing in Korea, where the large-battery EV9 starts at approximately $60,000. Therefore, it seems that foreign models may experience an increase of around 10% compared to the domestic Korean market.
Furthermore, this places the EV9 at the higher end of the pricing spectrum when compared to its sibling, the EV6. While the EV6's starting price is $42,000, it can reach up to $61,000 for the top-tier configurations. Kia seems to have established a price ladder, with the larger EV9 occupying the highest tier. Personal preferences aside, it's evident that Kia is targeting a different segment of the market with its larger SUV.
In terms of comparison with other electric SUVs in the market, the EV9's price is notably higher than Kia's gas-powered SUV, the Telluride, which starts at $35,000 in the United States or €34,000 in Europe. The substantial 100kWh battery featured in the EV9 certainly contributes to its higher cost.
While EV pricing differentials are often offset by subsidies, it is important to note that the EV9 will not qualify for the US EV tax credit due to its assembly in Korea. However, prospective US buyers can bypass this restriction by opting for a lease. Currently, Kia offers a lease deal on its existing models that allows lessees to benefit from the commercial EV tax credit of $7,500. Although Kia has not confirmed whether this deal will apply to the EV9, it is expected that similar arrangements will be made available, though perhaps not immediately upon launch.
Considering the pricing of other three-row electric SUVs, the EV9 falls somewhere in the middle. Assuming an eventual base price of around $60,000 for the standard model, it would be priced higher than the Tesla Model Y and the Mercedes EQB, both starting at approximately $53,000 with their less spacious rear seats. On the other hand, the EV9's pricing would be in line with or slightly lower than what is expected from the spacious three-row ID.Buzz. Moreover, it would be significantly less expensive compared to the Rivian R1S and the Volvo EX90, which both fall within the $80,000 range.
Source: electrek