Tesla's radical move to cut prices massively in the US, China and Europe may be imitated by other EV startups like XPeng and Aito, but some of the legacy carmakers don't seem to keen on the idea.
Kia, for instance, does not see that as a good thing because it could have "dangerous" implications for residual values in the longer term. At least that's the opinion voiced by Kia UK president and CEO Paul Philpott to Autocar.
In what is very likely a strategy directed from the higher echelons of parent company Hyundai Motor Group, Kia UK's boss said the company won't rush to match Tesla's heavy discounts of up to £8,000. Philpott warned that such a "blunt" action could inflict significant damage on the residual values of Kia electric vehicles.
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