Kia has unveiled plans to significantly increase its investment in electric vehicles (EVs) and autonomous driving technology, with the goal of offering 15 different EV models by 2027.
At a CEO Investor Day held in Seoul, the South Korean automaker announced an increased target of 1.6 million battery electric vehicles per year by 2030 as part of a $36 billion investment plan. This comes after Kia has already released its award-winning EV6 electric SUV and plans to release its highly anticipated EV9 large three-row SUV later this year.
Kia’s CEO, Ho Sung Song, stated that the company’s increased focus on EVs and autonomous driving technology is a part of its goal to become a “Sustainable Mobility Solutions Provider.” However, Kia’s goal to produce 1.6 million EVs a year by 2030 will only represent 37% of sales. The annual target suggests a slower pace, with EV sales increasing from 8% in 2023 to 25% in 2026, and then adding only another 12% in the next four years, reports The Driven.
The company’s PBV (purpose-built vehicle) business will also be up and running in 2025 at a dedicated production facility in Hwaseong, with plans to build a full line-up of PBVs, including a robo-taxi with autonomous driving technology. Kia’s recent transformation of its corporate name, logo, product, design, and strategy has led to significant brand value improvements, with the company winning a number of “Car of the Year” awards in key markets.
Kia’s investment in EVs and autonomous driving technology is a reflection of the growing trend of automakers looking to transition away from traditional internal combustion engine (ICE) vehicles. With an increasing number of countries setting targets to phase out ICE vehicles, it is clear that the future of the automotive industry will be electric. Kia’s investment in EVs is a step in the right direction and will allow the company to remain competitive in a rapidly evolving market.
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