Kia’s compact electric SUV, the EV3, has emerged as the best-selling electric vehicle in South Korea this year, according to industry data released Sunday.

Between January and February, Kia sold a total of 2,686 EV3s, outperforming competitors such as the Tesla Model Y, Hyundai Ioniq 5 and Hyundai Casper EV.

A key factor behind its popularity is its competitive pricing. After applying tax incentives and government subsidies, the EV3 is available in the 30 million won ($20,500) range, making it an attractive choice for budget-conscious consumers.

Additionally, the vehicle offers advanced features such as iPedal 3.0, a smart regenerative braking system, and an advanced heat management system.

The EV3 has also gained traction across all age groups. While buyers in their 40s accounted for the largest share at 30 percent, younger consumers in their 20s and 30s collectively made up 40 percent of total sales, signaling a growing interest in EVs among the younger generations.

The long-range variant has been particularly popular, accounting for over 80 percent of total sales since the model’s debut. Kia attributes this trend to consumer preferences for extended driving range when purchasing an EV.

With China’s leading EV manufacturer, BYD, preparing to expand its presence in Korea, industry experts anticipate heightened competition. BYD’s Atto 3, a direct competitor in the same segment, is expected to challenge the EV3’s dominance once it officially enters the market.

"Kia’s EV3 stands out with its popular designs, competitive pricing and outstanding functionality," said an industry official. "However, as BYD ramps up its domestic presence, the battle for market leadership is likely to intensify."

By Park Soo-bin (spark@heraldcorp.com)