In a strategic move designed to fortify its position in the global automotive industry, Kia has announced its ambitious plan to augment its electric vehicle (EV) portfolio with 15 models by the year 2027. This initiative is a direct response to the emerging competitive forces, notably from Chinese automotive brands, signifying Kia’s commitment to maintaining its market leadership and innovation prowess.
This latest announcement marks an increment in Kia’s electric venture, introducing an additional EV model to the 14 previously announced. The expanded lineup will showcase a spectrum of entirely new models including the EV2, EV3, EV4, and EV5, alongside two commercial vans, the PV5 and PV7, enriching Kia’s diverse offerings.
The rollout of these new models will commence with the launch of the EV3 in 2024, followed by the introduction of the EV2, EV4, and EV5 in key markets worldwide. By 2025, Kia aims to venture into the light commercial vehicle sector with the medium-sized PV5, subsequently unveiling the larger PV7 in 2027.
In addition to its EV strategy, Kia is poised to enhance its hybrid vehicle lineup, increasing the number from six in 2024 to nine by 2028. This expansion is part of Kia’s broader objective to transition into a leading sustainable mobility solutions provider, as underscored by Ho Sung Song, the President and CEO of Kia, during the company’s annual Investor Day. Song emphasised the company’s dedication to innovation, customer wellbeing, and environmental stewardship as fundamental components of its global business strategy.
Buoyed by the strength of its product portfolio, Kia has revised its annual EV sales forecast upwards, setting a target of 1.15 million units by 2027, and further extending this ambition to 1.6 million units by 2030. Moreover, the company envisions that electrified models will constitute 58% of its sales in 2030, amounting to 2.48 million units, which includes 882,000 units of hybrids and plug-in hybrids. This projection represents a significant increase and a commitment to a sustainable future, reflecting Kia’s strategic foresight and its resolve to remain at the forefront of the automotive industry’s evolution.