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Kia to Expand EV Line-up; Goal to Sell 1.6 Million EVs Annually by 2030
Kia has announced plans to expand its electric vehici=le (EV) line-up. Its goal is to sell 1.6 million EVs annually by 2030, and introduce 15 models.
The announcement was made at the 2024 CEO Investor Day.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs.
It plans to strengthen its hybrid electric vehicle (HEV) line-up from six models in 2024 to nine models by 2028, with HEV powertrain options offered for most of the brand’s major models.
In response to EV market changes, Kia will launch six EV models by 2026, starting with the upcoming EV3 in 2024, followed by EV2, EV4, and EV5 in major markets, including the US, Europe, and South Korea.
In emerging markets, the company will deploy two region-specified EVs, such as Carens EV for Indian market.
The brand also plans to produce both EVs and internal combustion engine (ICE) vehicles at 13 factories globally, including seven in South Korea and six overseas.
In addition, two EV-dedicated plants will be operated in South Korea.
Generative AI technology will be deployed to provide in-vehicle AI voice services, making its debut later this year in the EV3 and K4.
Ho Sung Song, Kia President and CEO, says: "Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider. By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment."
Kia plans to continue its investment expansion to secure future competitiveness.
It plans to invest KRW 38 trillion until 2028, a rise of KRW 5 trillion compared with 2023’s announcement.