SAN FRANCISCO -- The Kia Soul EV, Hyundai Motor Group’s first all-electric vehicle, will cost $33,700 before shipping and government incentives when it arrives in U.S. dealerships this fall, the Korean automaker announced today.
That puts the price of the funky hatchback at just above $27,000 after the addition of an $875 destination fee and the subtraction of a $7,500 federal tax credit for EV buyers. It is almost a $5,000 premium over the Nissan Leaf, which has a base sticker price of $22,360 with destination and incentives included, but Kia is betting the electric Soul’s styling, interior space, range and standard navigation system will lure buyers.
Kia’s EV gets an average of 93 miles of range on a charge, compared with 84 miles for the Leaf, partly because of a Hyundai Group-developed HVAC system that saves energy by directing all heating and cooling to the driver when no one else is in the car.
“We’re confident that the Soul EV represents a winning combination,” Michael Sprague, executive vice president of sales and marketing at Kia Motors America, said in a statement today.
In the U.S., Kia plans to sell the Soul EV primarily in California, which requires car companies to sell zero-emission vehicles that run on battery power or convert hydrogen into electricity using fuel cells.
Kia plans to offer a lease on the Soul EV; the company said it expects the 36-month lease to start at $249 per month with $1,999 due at signing, though it will announce a final lease offer when the car arrives in showrooms.
That initial price would track closely with competitors’ pricing for 36-month leases, according to Edmunds.com. This month, leasing a Leaf costs $199 per month with $1,999 due at signing, while the Mitsubishi i-MiEV is $189 per month with $3,388 down, and the Smart ForTwo Electric Drive is $199 per month with $1,493 down.
Underwriter Laboratories, an independent safety certification company, awarded the 2015 Kia Soul EV with environment validation for its bio-based organic content for 10 percent of its interior materials, Kia said in a February statement.
Hannah Lutz contributed to this report.