Kia reveals EV5 electric SUV, competitively priced against Model Y, to be built in China.

Kia has unveiled its new EV5 electric SUV, set to rival Tesla's dominant Model Y and be built in China. The EV5, expected to be around $5000 cheaper than Model Y, will help Kia cut production costs and be more competitive on price. Tesla's Model Y and Model 3, as well as BYD's Atto 3, are also built in China. Kia aims to launch the EV5 in Australia in June with a drive-away price of less than $70,000.