Overview
- South Korea finalized its 2026 EV program, lifting the maximum buyer incentive to 6.8 million won and adding a 1 million won scrappage bonus, with the 53 million won price cap set to tighten to 50 million in 2027 and new support extended to commercial EVs.
- According to Korea JoongAng Daily, stricter charging and energy‑density requirements in the plan are expected to advantage Hyundai and Kia’s NCM‑battery vehicles over LFP‑equipped Chinese entrants.
- Kia’s EV3 reinforced its breakout year in Europe, logging 10,973 registrations in the Netherlands for 2025 and helping Kia capture a 9.8% market share there.
- Hyundai and Kia plan 2026 launches of the IONIQ 3 and EV2 as lower‑priced models aimed at Europe and other markets where value EVs are gaining traction and Chinese brands are expanding.
- Kia still targets a U.S. EV3 arrival in 2026, with Europe pricing starting around €36,000 and two battery options offering WLTP ranges of roughly 430 km and 599 km.