Kia will launch a lower-priced electric vehicle model in the United States

South Korean automaker Kia announced on Wednesday that it will begin selling a lower-priced electric vehicle model, the EV3, in the United States later this year to boost electric vehicle sales.

Following the cancellation of the $7,500 electric vehicle tax credit policy in the U.S. last year, competition in the U.S. electric vehicle market has intensified. Kia stated that the U.S. electric vehicle market may return to previous levels within the next three to four years