A concept car previewing the production version was revealed in China on 20 March 2023, at the brand's EV Day event.

[11] The EV5 is powered by a lithium iron phosphate (LFP) battery produced by FinDreams, and a 160 kW (215 hp; 218 PS) electric motor with 310 N⋅m (31.6 kg⋅m; 229 lb⋅ft) maximum torque.

[12][13] For export markets, the EV5 will be equipped with a nickel-manganese-cobalt (NMC) battery with a capacity of up to 82 kWh.

Two powertrains are offered in Thailand, which include a 160 kW (215 hp; 218 PS) front-wheel drive version (for Light, Air and Earth Long Range trims) and the top-spec Earth Exclusive trim with dual-motor all-wheel drive rated at 230 kW (308 hp; 313 PS).

It will be available with a variant with less than 110 kW (148 hp; 150 PS) of power output to be eligible for the Category A Certificate of Entitlement.

It will be first Kia model to be assembled at the Hyundai Motor Group Innovation Center Singapore (HMGICS) facility.