Hyundai is about to drop a new cut-price mid-size electric SUV in the Australian market, which should worry BYD and Tesla.

The Kia EV4 Fastback starts at £40,895 ($55,000) in the UK, or slightly more than the EV3 (£32,995). Powered by an 81.4 kWh battery pack, the sedan offers an impressive range of up to 380 miles.

The Korean automaker offers the new Kia EV4 electric vehicle in two well-equipped grades and with a single powertrain option ...