Kia is working on an even smaller electric model, expected to be the electric equivalent of the Kia Picanto city car.The upcoming electric model is likely to be called the EV1 and is expected to be priced €5,000 ($5,200) lower than the EV2.Kia unveiled the EV2 Concept, previewing a production model, which is already compact, but the upcoming EV1 will be even smaller.Kia President Ho Sung Song stated that the company is studying entry EV models and plans to reveal them on the next EV Day.