Kia will invest 38 trillion won ($28 billion) through 2028 to strengthen its hybrid vehicle lineup as sales of EVs slow globally.
Kia plans to expand its lineup of affordable EVs with the introduction of the EV3 and EV4 next year, following the recent unveiling of the EV5. The automaker aims to address the barriers of high prices and limited charging infrastructure.
The Korean EV market is shifting toward smaller, cheaper vehicles, with Kia's EV9 falling short in sales while their Ray mini EV exceeds expectations.
The Kia EV5 SUV, the carmaker's first electric-only model manufactured in China, made its global debut on Friday during the Chengdu Motor Show held in Western China International Expo City.
Kia introduced an EV5 concept model at an e-sports culture center in Shanghai on Monday.
Korea JoongAng Daily Sitemap