Kia Corporation unveiled a detailed long-term corporate strategy at its 2022 CEO Investor Day online conference centred around becoming a leading provider of sustainable mobility.
It followed a similar presentation by sister company Hyundai Motor, which was reported by Just Auto earlier this week.
Kia said it aimed to increase its global sales to 4m vehicles annually by 2030, up from 2.8m last year, driven by strong growth in battery electric vehicle (BEV) sales which were expected to reach 1.2m units annually by the end of the decade.
Kia said it would invest KRW28trn (US$23bn) to have 14 BEVs on sale by 2027, up from 11 under its previously announced plan.
The company launched its first purpose-built EV sedan last year, the EV6, based on parent Hyundai Motor Group’s electric-global modular platform (E-GMP). It plans to launch the flagship EV9 SUV next year, followed by other dedicated passenger vehicle EV models and a battery powered pickup truck.
Annual sales of eco-friendly vehicles, including BEVs, hybrid and other zero-emission vehicles such as hydrogen fuel cell vehicles, are expected to exceed 2m units by 2030, or around 52% of total sales.
Kia CEO Song Ho-sung said: “We will focus on increasing sales of EVs in four major markets, South Korea, the US, Europe and China, where demand for EVs is on the rise and regulations are getting stricter against combustion engine cars.”
The company aimed to produce EVs locally in each of these regional markets with South Korea serving as the main development and production hub.
Kia said it was on target to launch its AutoMode autonomous driving technology in 2023 which would debut with the launch of the EV9. The technology would be available in all models in major markets by 2026.
It also aimed to make available connected car features to all its models by 2025.
Kia aimed to become the global leader in lifestyle EVs or PBVs. It plans to launch PBV derivatives such as the Ray one seat van and the Niro Plus in the near term, to be followed by dedicated PBVs using its skateboard EV platform later on.