Skip to main content
Sister Publication Links
  • Automotive News
  • Automobilwoche
  • Automotive News Canada
  • Automotive News China
Subscribe
  • Subscribe
  • Newsletters
  • Login
  • HOME
    • Latest news
    • Automakers
    • Suppliers
    • New Product
    • Environment/Emissions
    • Sales By Market
    • On The Move
    • Auto Shows
    • Munich Auto Show
    • Geneva Auto Show
    • Paris Auto Show
    • Beijing Auto Show
    • Shanghai Auto Show
  • Features
    • Long Read
    • Interview of the Month
    • Focus on Electrification
    • Focus on Technology
    • Segment Analysis
    • Cars & Concepts
    • Supplier Spotlight
    • Europe By The Numbers
  • Opinion
    • Blogs
    • Commentary
    • Guest columnists
  • Photos
    • Photo Galleries
    • Geneva Photo Gallery
    • Beijing Photo Gallery
    • Frankfurt Photo Gallery
    • Paris Photo Gallery
    • Shanghai Photo Gallery
  • Podcasts
  • Car Cutaways
  • EVENTS
    • ANE Congress
    • ANE Rising Stars
    • ANE Eurostars
  • More
    • Publishing Partners
    • Social Media
    • Contact Us
    • Media Kit
    • About Us
    • Capgemini: All or nothing: Why circular business models require a holistic approach
    • Capgemini: Invent Head on automotive takeaways from CES 2023
    • Capgemini: Securing the industry's future through a radical rethink
    • Capgemini: Succeeding with the automated driving journey through AI
    • Capgemini: The circular economy is spurring new thinking on EV batteries
    • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
    • HEXAGON: Plugging into data is the only way to make winning EVs
    • TUV Rheinland: Ideas, services and certifications for smart mobility
    • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
    • Toyota Europe
    • UFI Filters
    • Facebook
    • Instagram
    • LinkedIn
    • Twitter
MENU
Breadcrumb
  1. Home
  2. Automakers
September 19, 2019 04:10 AM

Kia may launch electric Picanto

Andrea Malan
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    Kia needs to reduce production costs for a Picanto EV to 16,000 to 17,000 euros. Pictured is an internal combustion version of the minicar.

    Kia could launch an electric version of the Picanto minicar if the automaker can find ways to reduce costs to make the car affordable.

    A battery-powered Picanto will be "a big challenge,” said Emilio Herrera, Kia Motor Europe’s chief oprating officer. “But sooner or later, we will have to do it."

    Automakers are rethinking small-car strategy in Europe in response to tougher European Union emissions limits that will force them to add costly new technology to cars that already bring in low profits.  Ford will stop selling its Ka+ in the region while Opel is dropping its Karl and Adam models.

    Volkswagen Group is expected to replace its VW Up, Skoda Citigo and Seat Mii internal combustion cars with battery only models. Seat has been tasked developing small EVs for the group that will cost less than 20,000 euros.

    At the Frankfurt auto show this month, Renault said it is working to launch a 10,000-euro electric vehicle in Europe within five years.

    Herrera said he is skeptical that Renault will achieve the goal. "I think that is a very bold statement because one of the most challenging things we have is to make all EVs profitable. And the smaller the car, the more complicated it is. So to have a 10,000-euro EV in that time frame, I see it very challenging and not very realistic," Herrera told Automotive News Europe,

    Despite this, Herrera said Kia is looking into the possibility of an electric Picanto. “There’s nothing confirmed yet, but we are really looking at it,” he said. He gave no time frame for a decision.

    The price of the current Picanto with a gasoline engine starts at 10,290 euros in Germany but drops to 10,000 euros with discounts, Herrera said. A fully equipped version can sell for more than 17,000 euros. A Picanto EV would currently cost close to 20,000 euros, he said.

    Herrera said Kia needs to reduce production costs for a Picanto EV to 16,000 to 17,000 euros.

    Kia could try to find synergies with sister brand Hyundai if it wanted to produce an electric version of its i10 minicar, Herrera said.

    Herrera said automakers should not count on government incentives that boost EV sales by reducing the price differences between internal-combustion-engine and battery electric vehicles.

    In five years, those incentives may be gone because so many EVs will be on the road that it will be too costly for governments to offer subsidies, he said.

    Why would Kia take up such a difficult challenge? “Because mini and small cars are so important in Europe. In countries such as Italy they account for 50 percent of the market, so I think we will have to have a battery electric minicar,” Herrera said.

    According to JATO Dynamics data, the mini- and small-car segments together command 26 percent of the EU market.

    Kia’s goal is to have an electric car "in almost every main segment," Herrera said.

    Kia currently sells electric versions of the Soul and the Niro small crossovers in Europe.

    Kia will sell about 20,000 of the two EVs in Europe this year and plans to double that figure in 2020, Herrera said.
     

    RECOMMENDED FOR YOU
    Toyota to increase Yaris capacity at French plant
    Recommended for You
    Toyota Yaris Cross
    Toyota to increase Yaris capacity at French plant
    Connected cars technology panel
    Stellantis sees new ways to generate profits from vehicle software
    VW logo in car mirror
    VW's rights may have been breached by Italian antitrust fine, EU court adviser says
    Sign up for free newsletters
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    Get Free Newsletters

    Sign up and get the best of Automotive News Europe delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    SUBSCRIBE TODAY

    Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business.

    SUBSCRIBE NOW
    Connect with Us
    • Twitter
    • Facebook
    • LinkedIn
    • Instagram

    Founded in 1996, Automotive News Europe is the preferred information source for decision-makers and opinion leaders operating in Europe.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI  48207-2997
    Tel: +1 877-812-1584

    Email Us

    ISSN 2643-6590 (print)
    ISSN 2643-6604 (online)

     

    Resources
    • About us
    • Contact Us
    • Advertise with us
    • Advertise with Us
    • Ad Choices Ad Choices
    • Sitemap
    Awards
    • Rising Stars
    • Eurostars
    • Leading Women
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Automotive News Europe
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • HOME
      • Latest news
      • Automakers
      • Suppliers
      • New Product
      • Environment/Emissions
      • Sales By Market
      • On The Move
      • Auto Shows
        • Munich Auto Show
        • Geneva Auto Show
        • Paris Auto Show
        • Beijing Auto Show
        • Shanghai Auto Show
    • Features
      • Long Read
      • Interview of the Month
      • Focus on Electrification
      • Focus on Technology
      • Segment Analysis
      • Cars & Concepts
      • Supplier Spotlight
      • Europe By The Numbers
    • Opinion
      • Blogs
      • Commentary
      • Guest columnists
    • Photos
      • Photo Galleries
      • Geneva Photo Gallery
      • Beijing Photo Gallery
      • Frankfurt Photo Gallery
      • Paris Photo Gallery
      • Shanghai Photo Gallery
    • Podcasts
    • Car Cutaways
    • EVENTS
      • ANE Congress
      • ANE Rising Stars
      • ANE Eurostars
    • More
      • Publishing Partners
        • Capgemini: All or nothing: Why circular business models require a holistic approach
        • Capgemini: Invent Head on automotive takeaways from CES 2023
        • Capgemini: Securing the industry's future through a radical rethink
        • Capgemini: Succeeding with the automated driving journey through AI
        • Capgemini: The circular economy is spurring new thinking on EV batteries
        • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
        • HEXAGON: Plugging into data is the only way to make winning EVs
        • TUV Rheinland: Ideas, services and certifications for smart mobility
        • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
        • Toyota Europe
        • UFI Filters
      • Social Media
        • Facebook
        • Instagram
        • LinkedIn
        • Twitter
      • Contact Us
      • Media Kit
      • About Us