Kia Cuts EV5, EV6 Prices in Korea and Offers Financing Deals to Counter Tesla

In response to intensifying competition in South Korea's electric vehicle (EV) market, Kia announced on January 22 price reductions for its EV5 and EV6 models. The subsidized price of the EV5 Standard trim is now approximately 34 million won, while the Long Range version has been cut by 2.8 million won. The EV6’s price has been reduced by 3 million won. Additionally, Kia introduced attractive financing options, including low-interest installment plans (as low as 0.8%), a residual value guarantee program, and trade-in incentives of up to 1.7 million won. So far in 2025, Kia has sold 60,609 EVs in South Korea, slightly surpassing Tesla’s 59,893 units. However, Tesla recently slashed Model 3 prices significantly at the start of the year, positioning it firmly in the 30-million-won price range—a move that could threaten Kia’s current lead in EV sales. To further strengthen its position, Kia has also enhanced its after-sales service and used-car valuation systems to improve the overall ownership experience across the vehicle’s entire lifecycle.