Their combined market share of the global EV market, including electric and plug-in hybrid vehicles, has fallen to 4.3 per cent this year from 5.4 per cent in 2022, due to the strong growth of China’s BYD, the research group said. Kia and affiliate Hyundai Motor sold about 374,000 EVs in the first eight months of 2023, ranking seventh globally, according to a report from SNE Research. He upgraded Kia’s stock to a buy on improving margins as battery costs decline. Prices of batteries, the most expensive part of an EV, are expected to fall to $99 per kilowatt hour by 2025 as technology improves and new lithium reserves are developed, according to an October 4 report by Goldman Sachs Group analysts led by Kota Yuzawa. “Maybe in the future, we need some different sales strategies,” such as selling vehicles without a battery, which buyers can then rent, he said. “This is very important for us how we can make the vehicles below around $25,000 in the market.” Kia has to study “very deeply” how to cut EV prices further, he said. The interior of the Kia EV3 concept electric vehicle (EV) at the company’s EV Day in Yeoju, South Korea, on Thursday. In India, it will focus on “strategically designed EV models tailored for emerging markets”, Mr Ho said, without elaborating. In Europe, the company will focus on making small- and medium-size EVs, while it will produce mid- and large-sized vehicles in China. To meet that target, Kia plans to have eight production facilities by 2025. The car maker aims to sell 1.6 million EVs by 2030. Smaller EVs are Kia’s “entry to the segment of customers” looking for electric cars with lower prices and charging convenience, chief executive Ho Sung Song told reporters at the EV Day, held in Yeoju city, south-east of Seoul. With government subsidies, the price drops to about $37,000 in Seoul and as low as $30,000 in some cities that offer extra incentives for EVs. Tesla started selling its Chinese-made Model Y SUV in Korea earlier this year, priced from about 57 million won ($42,550). Kia last month introduced its cheapest EV – the single-seat Ray, which starts at $20,000 and is only available in South Korea. Top-end models will go for up to $80,000. The three models are part of Kia’s plan to introduce smaller EVs ranging in price from $35,000 to $50,000 to accelerate the widespread adoption of battery-powered cars, the company said. Kia also displayed two concept cars – the EV3, a compact version of its flagship EV9 and the EV4, a four-door sedan that looks more like a sports car. The cars will be made at factories in China and Korea, with production starting around 2025. There is also a 4-litre refrigerator and warming unit for storing food and drinks. With over 500 international students, almost 10% of all those attending UNNC, the university boasts a global flair and facilitates many friendships.The Chinese version will have a front bench seat, while the rear seat can be folded flat to transform into a bed. Chinese language courses are also available free of charge. Every month, activities are on offer for the international students, but also for those in the first semester. This is followed by a welcome programme with various events for getting to know each other and preparing for the semester in Ningbo, for example by opening a bank account or being assigned a local “buddy” and a tutor. The International Office organises a transfer to collect all exchange students from the airport in Ningbo or Shanghai. While lectures take place in large groups, tutorials are held with a maximum of 20 students in order to facilitate discussion and interaction. According to the QS World University Ranking 2013, it is among the top 1% of universities worldwide. All of the programmes are held in English at the high level of the University of Nottingham in the United Kingdom, to which UNNC belongs. “Wǒ yào qù Nuòdīnghàn Dàxué” (我要去诺丁汉大学) – “I want to go to the University of Nottingham!” Students of all creeds and colours are welcomed at the University of Nottingham Ningbo China (UNNC), currently from more than 70 countries. More information at Scholarships for non-degree students at UNNC. The award money can be used to pay for a trip or leisure activities in the country. The UNNC Global Office provides scholarships for exchange students.
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