Heading into 2023, larger families in the market for an electric SUV are left with few options. Unless you’re prepared to spend over $90,000 for a Tesla Model X or Rivian R1S, your best shot has been to stick to conventional hybrids or PHEVs. That’s all going to change with the arrival of the Kia EV9 and Hyundai IONIQ 7 in 2024. These two are set to become the first 3-row electric SUVs with affordable pricing. Here’s everything we know about the IONIQ 7 and Kia EV9’s release date, pricing and specs.
IONIQ 7 and EV9 Release Date, Price and Specs
Revealed at the 2021 Los Angeles Auto Show as a concept, the EV9 builds upon the success of Kia’s electric flagship, the hot-selling EV6 electric crossover. Precisely how much of the EV9 concept will make it into the production-ready EV9 remains unknown, so we’ll proceed with a healthy dose of skepticism.
The Kia EV9 concept EV9 features a third row of seating, something that only three mainstream electric cars offer for the 2023 model year. That would be the Tesla Model X ($120,990+), the brand-new Rivian R1S ($78,000+) and the Vinfast VF-9, which is not yet in production, but will start at $57,500 or $76,000 with the battery. Yes, you read that right. The VF9 will require an additional $18,000 to buy the battery, or you can pay a monthly battery fee instead. More on that here. Let’s see how the Korean offerings will compare.
We expect the EV9 to launch with a starting price in the low to mid-$50,000 range. Why not cheaper? Raw material costs are increasing, making every EV more expensive to produce. Need proof? Check out lithium prices on commodity markets.
Automakers are looking for ways to sell higher-margin electric vehicles to fund their transition to EVs. One way they do that is to subsidize their headline-grabbing base model with affordable pricing with better equipped and much pricier mid and upper trim configurations. We expect this to be the only way that GM can offer a sub-$40,000 Chevy Equinox EV (more on the Equinox EV here). Kia and Hyundai are very likely to do the same. Expect the EV9 and IONIQ 7’s pricing to stretch from the low $50,000s all the way towards $70,000. Of course, the automakers are betting that you’ll want to upgrade to the more expensive options.
IONIQ 7 and EV9 Release Date
Multiple EV9s have been spotted doing road testing, and all signs point towards a production-ready unveiling in early to mid 2023. Although we haven’t seen any IONIQ 7s testing as of late 2022, we still expect the two to debut together, much like the Hyundai IONIQ 5 and Kia EV6 did in late 2021.
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The Hyundai IONIQ 7 and Kia EV9 will launch in late 2023 as 2024 models. Of course, that’s unless the worsening semiconductor chip shortage and broader supply chain constraints delay the release date of the model. By then, the Vinfast VF9 will have arrived too. Although Vinfast doesn’t have the brand-recognition and dealer network of Hyundai and Kia, early media reviews are largely positive. You can learn more about Vinfast’s unique battery subscription model here.
Range, Charging Speed and Specs
The Kia EV9 concept that was unveiled in 2021 was a bit over-the-top. It featured a solar panel on the front hood, a 27-inch infotainment and gauge display, and a pop-up steering wheel that is unlikely to survive the transition to production. The IONIQ 7 debuted as a literal living room on wheels. Fantasies aside, what will make it into production? Expected range, charging and pricing are enough to get us excited.
Kia and Hyundai claim that these two electric SUVs will get 300 miles of range on a charge. Before you demand more miles, remember that SUVs (and trucks) are by design inefficient. That means more batteries are needed to squeeze the same range when compared to a smaller crossover or sedan. Don’t expect 400 mile+ 3-row electric SUVs to become commonplace, let alone affordable, this decade.
The EV9 and IONIQ 7 will share the Electric Global Modular Platform (e-GMP) that Hyundai Motor Group engineered. There’s great info on this powertrain here. My own 2022 Hyundai IONIQ 5 has this same powertrain, and I love it. Range estimates are accurate, I’ve had minimal range loss after 15,000 miles, and charging is amazingly quick.
Kia says that the EV9 will be able to charge on 350-kilowatt DC fast charging stations, such as those found at Electrify America. We already know a lot about the e-GMP powertrain’s charging capabilities. With 350 kW charging, the EV9 will be able to add 200 miles of range in under 30 minutes. In all likelihood, the IONIQ 7 will match these specs.
Currently, Hyundai sources batteries from SK Innovation. In late 2021, SK Innovation announced plans for two battery plants at a single site in Commerce, Georgia. That’s just down the road from where their largest customer, Hyundai Motor Group, is building a massive EV production facility. We expect SK Innovation to supply American-made batteries for the IONIQ 7 and EV9.
That leads us to our final topic: EV tax credits in the US.
Tax Credits and Incentives
Will the Kia EV9 and Hyundai IONIQ 7 Qualify for EV Tax Credits? Yes, but it’s possible that the two models won’t be eligible until late 2024 or 2025. Why? Both Kia and Hyundai have publicly shared their intentions of speeding up construction at their new EV production facilities in Georgia. Even with the quicker timeline, executives say that they hope to begin volume production in the third quarter of 2024.
In order for any electric vehicle to qualify for the revised EV tax credit, the vehicle and buyer must meet several criteria. The most notable are the following:
- The vehicle must have ‘final assembly’ in North America
- A certain percentage of battery components must be produced in the US or Free Trade Agreement countries.
- A certain percentage of minerals used for battery production must be sourced in the US or Free Trade Agreement countries.
- Price caps and income caps apply.
More to Come
Truthfully, Hyundai and Kia have not yet released much information about their two new 3-row electric vehicles. When the two OEMS unveil the production versions of the EV9 and IONIQ 7 in early 2023, we’ll update this page with interior images, additional specs, and all that we learn.
In the meantime, check out the fastest-growing EV forum on the internet. It’s free, and full of thousands of drivers at all levels of EV interest.