Kia plans to introduce 14 new EVs by 2027
The three new models are two electric pickup trucks, one of which designed for the emerging markets, and an entry-level electric car.
That would help the carmaker hit its goal of selling 4 million EVs annually by 2030. Kia will have 52 percent of its cars as eco-friendly models by 2030.
The company sold 160,000 EVs in 2021, which was five percent of its auto production.
"Kia attempted a full-scale makeover last year with a change of the company name, logo, products and their designs, as well as company strategy," Kia CEO Song Ho-sung said Thursday.
"The change will continue for Kia to become a 'sustainable mobility solutions provider'."
Kia said Thursday it will begin selling two new EVs every year through 2027, starting with the EV9 large SUV in 2023. The automaker hopes the electric SUV will match the success of EV6, which was first made available last year. Nearly 30,000 have been sold globally.
The EV9 will be able to run 540 kilometers per charge and go from 0 to 100 kilometers per hour in five seconds, the company said.
Kia's electric future also includes purpose-built vehicles (PBVs), which are vehicles designed for specific applications, such as shuttle services, last-mile delivery and ride-hailing.
Kia will start by selling PBVs that are spinoffs from current models.
It will start selling the Nero Plus, a PBV based on the Niro SUV, later this year. The vehicle is for taxi and ride-hailing services.
The existing Niro SUV will be adjusted to have more space in the backseat for the PBV version.
Kia said it will roll out a brand new PBV model from 2025, the first one a midsized vehicle.
It plans to invest 28 trillion won through 2026, much of it going toward EVs, PBVs and autonomous-driving technology.
The company said it aims to reach a market capitalization of 100 trillion won by 2026, from about 30 trillion now. It is the No. 11 listed company in Korea by that measure.
BY JIN EUN-SOO [email@example.com]