Kia to begin creating Soul EV up coming month

A battery-powered version of the Kia Soul compact vehicle is on display at a hotel in Hwaseong, South Korea.

Photograph credit: REUTERS

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March eleven, 2014 – 6:thirty am ET — Up to date: 3/one/14 10:02 am ET — correction

Editor’;s note: The headline on an earlier version of this report incorrectly stated the timing of the Kia Soul EV launch. It has been corrected.

HWASEONG, South Korea (Reuters) — Kia Motors explained it will start off constructing a battery-powered version of its Soul compact in Korea following month. The car will be Hyundai-Kia’;s 1st battery-powered EV export, with destinations like the United States and Europe.

For this 12 months, the worldwide product sales target is 5,000 Soul EVs, stated Cho Yong-won, vice president of Kia’;s Domestic Marketing Group.

In Korea, the Soul EV will price about half of its 42 million won ($ 39,400) price tag right after government subsidies, related to the greater-finish model of the gasoline version.

The vehicle can run up to 148 km (92 miles) per 24- to 33-minute fast charge or 4 hrs on slow charge.

Hyundai, like Japanese rival Toyota Motor Corp., has long concentrated on fuel cell vehicles powered by electrical energy produced using hydrogen, touting their longer driving assortment and shorter refill occasions.

But like Toyota, Hyundai is expanding its giving by also investing in battery-powered cars — the staple green offering of Kia.

“There is no clear route about which eco-friendly automobiles will win. We are dividing the roles of Hyundai and Kia, with Hyundai launching fuel cell autos and Kia focusing on electric autos,” said Senior Vice President Lee Ki-sang, who prospects the eco-pleasant vehicle divisions of both Hyundai and Kia.

“But the time will come when Kia will introduce a fuel-cell auto. Hyundai is also getting ready to launch a (battery-powered) electric automobile in 2016.”

Zero-emission cars are likely to grow to be a a lot more frequent sight as governments devise surroundings-pleasant initiatives. California, for instance, requires that automakers produce a specific percentage of zero-emission vehicles as component of their all round fleet or acquire credits from companies who have made far more.

Kia, 34 % owned by Hyundai, has favored battery-powered autos due to the fact they can be charged at home as effectively as at charging stations. Fuel cell automobiles have to be refilled with hydrogen only at filling stations.

So far, a lack of charging stations and reasonably short driving ranges, as nicely as substantial charges resulting from the expense of batteries, has kept the battery-powered EV industry niche.

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