Car maker Kia has unveiled plans to challenge China in its race to become an electric vehicle leader as it announces ambitions to have more than half of its fleet be electric by 2030.
The South Korean vehicle manufacturer shared its plans with customers and shareholders at its annual Investor Day conference earlier today.
The brand, which already has five major electric vehicles on the market, said it plans to add more electric cars to its haul totalling 15 by 2027 as it accelerates production.
Kia will launch six new EV models by 2026, starting with the upcoming EV3 in 2024, followed by EV2, EV4, and EV5 in major markets, including the United States, Europe, and South Korea.
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Kia won a number of awards at the New York International Auto Show
In emerging markets, the company said it will deploy two region-specified EVs and wants annual sales for EVs to reach 1.6 million units by the end of the decade.
The total unit estimate for 2030 is 34.4 per cent higher than the brand's 2024 annual goal of 3.2 million units showing the interest from drivers.
Ho Sung Song, president and CEO of Kia, said: "Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company's transition to a sustainable mobility solutions provider.
"By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment."
The Kia EV9 was recently named World Car of the Year and World Electric Vehicle at this year’s New York International Auto Show.
The electric vehicle was praised for its 350-mile range by a jury of 100 automotive journalists representing 29 different countries.
The World Car Awards recognised the electric vehicle’s design, seven-seat interior and a competitive price point starting from £64,245 which helped it secure this year's victory.
Kia’s electric vehicle plans follow a similar move by car brands Nissan and Honda which joined forces to start developing electric vehicles in a bid to overtake China which is leading the global race.
The partnership sees the two Japanese car brands pull resources together to help accelerate efforts towards carbon neutrality in vehicles.
The competition between the two nations has sparked attention with Makoto Uchida, president and CEO of Nissan, emphasising the importance of increasing the pace of development.
China already has mass dominance over Europe with one in five electric cars Chinese made, it is also becoming more apparent in the UK.
The brand also plans to produce both EVs and fuel-based cars at 13 factories globally, including seven in South Korea and six overseas.
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Kia aims to have annual sales of EVs reach 1.6 million units by the end of the decade
KIARecent data from the Society of Motor Manufacturers and Traders (SMMT) found that the market share of electric vehicles has dropped from 16.2 per cent down to 15.2 per cent in the last year.
Chief executive of the SMMT Mike Hawes warned that challenges would be present amid a “sluggish” private market and a “shrinking” EV market share.