"14 Electric Vehicle Models in 5 Years" Kia Accelerates Electrification... By 2030, 1 in 3 Hyundai and Kia Cars Will Be EVs

Launching at Least Two New Electric Vehicle Models Annually Until 2027
Targeting 1.2 Million Electric Vehicles by 2030 with 30% Sales Share
Refining Connectivity and Autonomous Driving Technologies to Lead PBV Business

Song Hoseong, President of Kia, is presenting at the CEO Investor Day held on the 3rd.

[Asia Economy Reporter Choi Dae-yeol] Kia plans to launch more than two new electric vehicles (EVs) each year over the next five years, increasing its EV lineup to 14 models by 2027. The company aims to raise the share of EV sales from the current level of about 5% to 30% by 2030. Kia also unveiled plans to lead the market by introducing various products and services in the purpose-built vehicle (PBV) sector, which is just beginning to form overseas.

On the 3rd, Kia President Song Ho-sung announced these mid- to long-term plans during an online CEO Investor Day. The total EV sales target was raised to 807,000 units in 2026 and 1.2 million units by 2030, a 36% increase from last year’s target. Combined with Hyundai Motor’s announcement of 1.87 million units by 2030, the group’s total reaches 3.07 million units. Considering that Hyundai Motor Group expects total sales of about 9.19 million units during this period, the plan is to have one out of every three vehicles sold be an EV. This approach is somewhat conservative compared to global automakers like Volkswagen and GM.

Last year, Kia announced plans to launch 11 EV models as part of its electrification strategy, and it has now added three more: two electric pickup trucks and one low-cost model. The pickup trucks will be tailored for the North American market and emerging markets, respectively. The low-cost model is a segment actively developed mainly by Chinese manufacturers, and Kia plans to target this segment by lowering production costs such as batteries. Next year, Kia will introduce the large SUV EV9. For the first time, Kia will apply over-the-air (OTA) wireless software updates and a Feature on Demand (FoD) service that allows customers to purchase software functions according to their needs.

Currently, EVs are produced only at some plants in Korea and China, but Kia plans to manufacture EVs at existing overseas plants in the U.S., Europe, and India as well. This is to supply EVs tailored to the characteristics of each market and region. In Europe, small and mid-sized passenger cars will be produced starting in 2025; in the U.S., mid-sized SUVs and pickup trucks will be made from 2024; in China, mid-sized sedans; and in India, low-cost and mid-sized sedan models.

Kia Exclusive Electric Vehicle EV6

Starting in 2025, all new vehicles will be launched as connected cars, enabling all customers to keep their vehicle status and technology up to date. Kia has established a car cloud with user data from up to 10 million users within the year and developed an integrated controller to centrally manage all vehicle functions. The EV9 will feature autonomous driving technology that allows the driver to be uninvolved during highway driving. From 2026, Kia will apply its self-developed autonomous driving technology, “Auto Mode,” to all new vehicles in key markets such as Korea, North America, and Europe.

Kia views PBVs as expanding in various applications, including delivery and logistics services, public transportation, and mobile office spaces, and is developing diverse business models accordingly. The vehicles will be built on a flatboard platform structure that can combine various bodies and be adjusted as needed. Kia plans to offer comprehensive services linked to mobility, including charging, maintenance, and management. The Niro Plus, designed for taxi and ride-hailing services, will be launched this year, and dedicated PBV models will be introduced in 2025. Investment is planned to increase by 5 trillion KRW to 28 trillion KRW by 2026, with nearly 43% allocated to future businesses such as EVs.

President Song said, “To grow into a sustainable mobility solutions company, we will continue dynamic changes this year by focusing on future business transformation, customer-centric management at every touchpoint, and strengthening our fundamentals.”

This content was produced with the assistance of AI translation services.