TOKYO — Kia is preparing seven new EV-only models across several segments by 2027, with the first one coming to market next year.
The EV product push will generate 25 percent of Kia’s global sales by 2029, said Kia CEO Ho Sung Song, who announced the plans last week at the automaker’s plant in Hwaseong, South Korea.
The plan comes just a month after sibling brand Hyundai Motor Co. announced its intention to introduce a global battery-electric brand under the Ioniq name.
Together, it is part of Hyundai Motor Group’s effort to sell 1 million electric vehicles worldwide by 2025. In that period, the Korean manufacturer wants to become a market leader with a 10 percent global share in the EV segment.
Kia’s dedicated new EV is code-named CV and will be delivered worldwide starting next year, the company said in a release. Unlike Kia’s Soul EV, which was an electrified version of an existing gasoline-powered nameplate, the new entry will be electric-only. It will be built on a new Electric-Global Modular Platform, or E-GMP, which Kia said will have best-in-class interior spaciousness.
The CV will be the lead-off model for a new lineup of 11 EVs, seven of which will be EV-only products, by 2027, Kia said.
Kia wants to draw 20 percent of its sales from EVs by 2025 in developed markets such as North America, Europe and South Korea. And by 2029, Kia wants EVs to generate a quarter of its worldwide sales.
The shift to EVs is part of the Plan S business campaign Kia introduced in January. It prioritizes a long-term strategy for electrifying the product lineup and branching into new mobility businesses.
As part of the effort, Kia said it will explore the creation of new subscription services for EVs, EV-battery leasing and rental programs and battery “second-life” businesses. It also aims to expand the worldwide number of electric vehicle work bays at after-service locations.