Electric Vehicle Transition Speed... Kia Motors "EV Share to Reach 25% by 2029"

Establishing a Lineup of 7 Dedicated Electric Vehicle Models by 2027

Sketch images of 7 dedicated electric vehicle models Kia Motors will launch by 2027 (Photo by Kia Motors)

[Asia Economy Reporter Jihee Kim] Kia Motors is stepping on the accelerator to transition to an electric vehicle (EV) business system. The company has set a goal to increase the share of EV sales in the global market to 25% within 10 years.

According to industry sources on the 19th, Kia recently unveiled a global EV strategy that includes a blueprint to launch seven dedicated electric vehicle models by 2027. These dedicated EVs will feature Kia's new design identity and will cover various segments, from passenger cars to sports utility vehicles (SUVs).

Notably, Kia has further detailed its EV plans compared to the mid- to long-term future strategy "Plan S" announced earlier this year. Through Plan S, which forecasts an investment of 29 trillion KRW by 2025, Kia had previously announced a goal to increase the share of EV sales to 20% in advanced markets such as South Korea, North America, and Europe. The plan also includes building an 11-model EV lineup across all vehicle segments. The EV lineup will diversify options by dualizing charging systems and simultaneously operating high-performance 'dedicated EVs' and affordable 'derived EVs.'

With this recent announcement, Kia added to its existing goals by aiming to introduce seven dedicated EV models by 2027. Moving beyond the target of achieving a 25% eco-friendly vehicle sales share by 2025, the company has set a 10-year plan to reach a 25% EV sales share by 2029.

In line with this future blueprint, the transition to an EV business system is accelerating. Next year, Kia will launch its first dedicated EV model (project name CV). Applying the EV-exclusive platform E-GMP, the vehicle will secure best-in-class interior spaciousness for its segment, while also offering a segmented product lineup including ▲urban type ▲long-range type ▲performance type.

Kia is also preparing a new emblem reflecting sweeping changes across all areas. This is to allow customers to directly experience the innovation accompanying the business system transition. As the brand identity establishment and emblem change are being pursued together as a leading EV company, industry insiders speculate that Kia will unveil the new emblem with its first dedicated EV, the CV.