logo
Meet the electric Kia Sportage: new EV5 revealed

Meet the electric Kia Sportage: new EV5 revealed

Auto Car6 days ago
Kia has revealed technical specifications for the European version of its EV5 electric SUV, which gets a different battery from the Chinese-market car launched two years ago.
It swaps the Chinese model's lithium-iron-phosphate pack for the 81.4kWh nickel-manganese-cobalt unit that is also offered in the smaller EV3 and EV4. This is claimed to yield a range of up to 329 miles.
It can be charged at up to 120kW on a DC connection, which enables a 10-80% refill in half an hour.
The battery also has vehicle-to-load and vehicle-to-grid capabilities, allowing it to power external devices or the wider electrical grid.
The European EV5 will be offered with only one powertrain at launch: a single front-mounted motor with outputs of 215bhp and 218lb ft. This allows it to cover 0-62mph in 8.4sec.
The 302bhp four-wheel-drive set-up available in China will not be offered at launch.
It is possible that Kia will also offer a GT version with more power, a firmer suspension set-up and simulated gearchanges in due course. The EV6 and EV9 have already received this treatment and the EV4 is likely to be next in line.
Inside, it gets 12.3in displays for instruments and infotainment, as well as a 5.3in climate control touch panel. The bench-style front seats in the Chinese EV5 are swapped for a more conventional two-seat arrangement with a larger centre console.
European-market EV5s will be built in Korea, rather than China, sidestepping the European Union's tariffs on Chinese-built EVs.
The first EV5s will arrive in the UK this winter. Prices have yet to be confirmed but the EV4 Long Range starts from £37,695 and the EV6 Long Range is priced from £45,585, which suggests it could start just below the £40,000 mark. That would position it as a rival for the likes of the Audi Q4 E-tron, Nissan Ariya and Hyundai Ioniq 5.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

The new Xiaomi YU7 SUV is probably the best EV in the world
The new Xiaomi YU7 SUV is probably the best EV in the world

Auto Express

time20 minutes ago

  • Auto Express

The new Xiaomi YU7 SUV is probably the best EV in the world

It's astonishing what Xiaomi has achieved with the YU7 SUV. This is not just a good looking, high quality and high-tech EV, but one that offers world-beating range, charging and performance in a package that feels as well engineered as any European or Japanese alternative. The fact this new-age brand has achieved all this with less than 10 years experience of building anything more mechanically complicated than a vacuum cleaner or smart phone is even more incredible. Advertisement - Article continues below From refrigerators to tablets, air-conditioning units or even ultrasonic toothbrushes, Chinese brand Xiaomi has an incredibly wide remit when it comes to its consumer products, but its venture into the world of electric cars seems to have put it right to the forefront of European attention. Twelve months after the release of its first EV, the impressive SU7 saloon, is the ambitious brand's next natural step: the YU7 SUV – a model that's already been setting the sales chart alight in its native Chinese market. This large, stately and well formed SUV might have a design that's reminiscent of a few European brands – we're thinking a little McLaren 720S around the nose and Ferrari Purosangue at the side – but this is hardly a bad place to start when designing a new brand from scratch. Size-wise it's actually quite a large SUV, being slightly longer and wider yet lower than a Porsche Cayenne. This also makes it quite significantly larger than its more direct rival from Porsche, the Macan Electric. Skip advert Advertisement - Article continues below View HS View Q2 View C3 Origin View Mokka As a result there's plenty of space inside the cabin, which is minimalist in design and feels of high quality. Like many new-age Chinese EVs the interior tech is quite captivating, with a large central touchscreen joined by a huge head-up display that sits across the base of the whole windscreen. Drivers can configure this new display in multiple formats, and it provides a home for the in-car virtual assistant that takes the form of a cute and cuddly capybara. This is very similar to what BMW has been working to introduce on its forthcoming Neue Klasse models, although the German brand seems unlikely to include the exotic furry side-kick. Advertisement - Article continues below The cabin also includes a new type of panoramic glass roof that's able to graduate between completely clear and completely tinted to a factor of 99.85 per cent, albeit taking a few minutes to complete the transformation. Xiaomi offers the YU7 with two battery packs and three power levels, and all feature 800V electronic architecture with an incredible 500kW peak DC charging rate. This is leagues ahead of all the western competition, even beating the latest Mercedes MMA products which offer 320kW maximum charging speeds. Its range and performance figures are also in a different league to almost all rivals. Skip advert Advertisement - Article continues below The smaller 96.3kWh battery is available as standard with a single 315bhp motor and can complete up to 517 miles on the Chinese CLTC testing cycle. A Pro model with a more powerful 489bhp dual-motor setup is capable of 477 miles. It is worth noting the Chinese CLTC range test is even more forgiving to EVs than the European WLTP cycle, with range figures often differing by approximately 15 to 25 per cent between the two, but even so these are incredible numbers considering the size and performance of the YU7. The model we drove was the top-spec dual-motor Performance variant with a 101.7kWh battery and 749bhp peak power figure. With a range of around 471 miles, it doesn't compromise on efficiency yet is still capable of reaching 0-62mph in just 3.2 seconds. Advertisement - Article continues below To drive, the YU7 is at once seamless and also quite violent thanks to the incredible performance from its two e-motors. The throttle is well calibrated, though, so it feels controlled and composed. Regenerative braking can be adjusted in three stages, with a final one-pedal mode able to bring you to a complete stop without touching the brake pedal. A fast EV is nothing unusual in this day and age, but the real surprise is how well Xiaomi has tuned the YU7's ride and handling. The model we drove featured air suspension and adaptive damping, and handled its huge 2.8-tonne mass with ease. This is all helped by accurate steering, and is a remarkable result considering the company has only around a decade of experience in automotive engineering and design. Yet the biggest selling point might be that Xiaomi has priced the YU7 from just over £26,000 in the local Chinese market, with the top-spec model we're driving here costing just £33,820. These aren't at all relevant to a potential price when, or if, Xiaomi ever decides to sell its cars in the UK but the YU7 proposition as a whole is a huge testament to the speed of Chinese manufacturers' progress. Xiaomi is not just building competent EVs, but world-class ones at incredibly low prices. Model: Xiaomi YU7 Performance Base price: £33,820 (CDM pricing) Powertrain: 101.7kWh battery, 2x e-motor Transmission: 1-speed automatic, all-wheel drive Power/torque: 680bhp/866Nm 0-62mph: 3.2 seconds Top speed: 156mph Range/charging: 481 miles/500kW Length/width/height: 4,999mm/1,996mm/1,600mm On sale: In China only (for now) Searching for your perfect EV? Be sure to use our Find a Car service... New MG IM5 has the Tesla Model 3 beaten on price and range New MG IM5 has the Tesla Model 3 beaten on price and range The all-electric IM5 brings new technology and design to the MG line-up New MG Cyberster Black is a dark sign of things to come for the brand New MG Cyberster Black is a dark sign of things to come for the brand MG boss thinks special editions like this might be the ticket to keeping up demand for the electric sports car Vauxhall Mokka vs Hyundai Kona: small hybrid SUVs in a big battle Vauxhall Mokka vs Hyundai Kona: small hybrid SUVs in a big battle Hybrid newcomers slug it out for family buyers' hearts and minds Car group tests 12 Jul 2025

Swiss zero rate squeeze on banks may lead to bumpy ride for borrowers
Swiss zero rate squeeze on banks may lead to bumpy ride for borrowers

Reuters

time22 minutes ago

  • Reuters

Swiss zero rate squeeze on banks may lead to bumpy ride for borrowers

ZURICH, July 14 (Reuters) - Banks in Switzerland will be searching for other ways to squeeze borrowers as their lending margins are hit by the central bank's introduction of zero rates, analysts say, suggesting banking services and some types of credit may soon get costlier. The Swiss National Bank's June decision to cut its benchmark rate to zero took the country's borrowing costs to the lowest level among major economies - far lower than the neighbouring European Central Bank's key 2.0% deposit rate, for example. Following the SNB's two rate cuts this year, banks may see their net interest income fall by about 660 million Swiss francs ($830 million) this year, Daniel Geissmann from banking consultancy zeb estimates. Banks made roughly 20 billion francs from this business in 2024. "Zero interest rates are the worst-case scenario for banks," Geissmann said. "The banks lose because they can't pass on the rate cut to deposits." When interest rates were last around 0% between 2011 and 2015, Swiss banks' net interest rate margin fell from 1.4% to 1.1%, hitting profits, SNB data show. Geissmann estimated banks lost out on nearly 4 billion francs between 2011 and 2014, but noted the effect would likely be less pronounced this time because lenders are starting from a lower margin level. Reluctant to pass the cost on to depositors via sub-zero rates, if banks want to protect their profits they must make up for the missing revenues elsewhere. Martin Hess, chief economist of the Swiss Bankers Association (SBA), said credit could become more expensive as banks have to rely on costlier sources of funding such as capital market instruments instead of deposits. "Ultimately, this will be passed on to the real economy and customers," he said, pointing to higher mortgage costs. Ultra-low interest rates tend to fuel demand for property, with the 2011 to 2015 period seeing house prices jump by 15%, triple the rate in 2000-2005, SNB data show. "This increased risks in the property market of overvaluations and a correction, although it didn't happen last time," said GianLuigi Mandruzzato, an economist at EFG Bank. "These risks could emerge again." It was also challenging for insurers and pension funds, which found it hard to generate returns to cover their commitments as yields from bond investments plunged, he noted. UBS economist Maxime Botteron said that banks may also become increasingly reluctant to lend if the yield curve flattened further or inverted with rates at zero. The stock market is also not immune to the impact of the SNB's zero rates. With official rates well below those of other central banks in Europe and North America, shares of Switzerland's main listed banks have already begun to underperform those of their rivals. Shares of UBS, which faces tougher capital rules following its 2023 takeover of Credit Suisse, are up just 2.2% in 2025, while Julius Baer's shares are down 6.7% as new management seeks to draw a line under a recent run of setbacks. The Stoxx European Banks Index (.SX7P), opens new tab, by contrast, has risen 29.3% this year, highlighting the Swiss underperformance. Savings and loans banks are likely to be most affected by the erosion of lending margins. Banks that primarily collect deposits and issue mortgages such as Raiffeisen [RIC:RIC: and Valiant (VATN.S), opens new tab generate more than 70% of their revenue from their interest business, company data show. Less affected are outright wealth and asset managers like Julius Baer and Vontobel (VONN.S), opens new tab, which derive only around 10% from interest income. Diversified lenders like UBS at about 15% and ZKB with 54% lie in between. Vontobel banking analyst Andreas Venditti said that how hard banks are hit by zero rates will ultimately depend on how long those rates stay in place. "The problem gets worse if you stay at zero for a longer period of time," he said. "Interest margins in Europe and especially in the U.S. are much higher." ($1 = 0.7966 Swiss francs)

Irish debt office to review security protocols after losing 5 million euros in phishing attack
Irish debt office to review security protocols after losing 5 million euros in phishing attack

Reuters

time22 minutes ago

  • Reuters

Irish debt office to review security protocols after losing 5 million euros in phishing attack

DUBLIN, July 14 (Reuters) - Ireland's National Treasury Management Agency, the state body that manages debt and the sovereign wealth fund, will review its security protocols after losing 5 million euros ($5.9 million) in a phishing attack, it said on Monday. The scam was discovered last week after staff at the 17 billion euro Ireland Strategic Investment Fund (ISIF) - a sovereign development fund that the agency also runs - expressed concern about a payment made to what they thought was an investee company. Instead, it was found that they had received a fraudulent payment request from a third party designed to look like a legitimate request from the existing investee company at the time of an expected drawdown of funds, NTMA Chief Executive Frank O'Connor said at a news conference. ISIF, which invests in companies that support employment and economic activity in Ireland, has made almost 250 individual investments, many involving several such drawdowns or so-called capital calls, in its 10 years of operation. "We will have to look hard at our own systems, our own protocols, and the investigation will fully get into that," O'Connor said, adding that the investigation will consider if more controls are needed. The NTMA has reported the fraudulent payment to the police and said it is seeking to recover the funds. O'Connor said that there was no suggestion of an IT breach at the NTMA or that any inside information had been used on its part. The story was first reported by the Irish Daily Mail. The NTMA was most recently tasked with running Ireland's new sovereign wealth fund, which the government hopes to grow to around 100 billion euros ($117 billion) over the next decade to ease future healthcare, pension and climate costs. "In my many years of engagement with the National Treasury Management Agency, I have seen at first hand how seriously they take all matters with regard to security," Finance Minister Paschal Donohoe told the news conference, describing the attack as "regrettable but extremely rare." Neither O'Connor nor Donohoe discussed who may have been behind the attack, mentioning that they were restricted in what they could say. ($1 = 0.8552 euros) (This story has been corrected to show ISIF is a sovereign development fund, not a sovereign wealth fund, in paragraph 2)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store