South Korean automaker Kia has significantly ramped up its planned switch to electric vehicles and autonomous driving, announcing it now aims to offer 15 different EV models by 2027 – in just four years.
At the company’s CEO Investor Day held on Wednesday in Seoul, Kia updated its mid-to long-term business strategy with a renewed focus on electrification, and an increased target of 1.6 million battery electric vehicles a year by 2030 as part of a $36 billion investment plan.
Kia has already released the award winning EV6 electric SUV and is about to release the much anticipated EV9 large three-row SUV (with swivel seats), which the company says will now include level 3 autonomy in 2023.
It didn’t give much detail about the other EV models it plans to release, and it should be noted that its newly upgraded battery electric target will still represent just 37 per cent of sales by 2030.
And despite saying that it is “accelerating” its switch to EVs, its annual target suggest that it will actually slow, with the EV share leaping from eight per cent in 2023 to 25 per cent in 2026, and then adding only another 12 per cent in the next four years.
“In 2021, Kia went through a full-scale transformation of its corporate name, logo, product, and design, as well as corporate strategy,” said Ho Sung Song, Kia’s president and CEO.
“As a result, our brand value has improved significantly, helping us to win a number of ‘Car of the Year’ awards in key markets. In order to become a Sustainable Mobility Solutions Provider, Kia needs to continue its efforts to strengthen Kia brand identity and establish an innovative and customer-centric business model.”
Kia also announced more plans for its purpose-built vehicle (PBV) business which will be up and running in 2025 at a dedicated production facility in Hwaseong. Kia aims to build a full line-up of PBVs including a robo-taxi with autonomous driving technology.
The company says its PBV business will allow various types of bodies to be placed on a flat skateboard-type platform for use in a wide array of businesses and with customisation to meet specific purpose and needs.
Keyword: Kia says it will have 15 different electric vehicle models on the road by 2027