Recently, Kia announced its mid- to long-term electric vehicle (EV) business strategy during the 2022 CEO Investor Day. The company plans to achieve global sales of 4 million vehicles and 1.2 million electric vehicles by 2030. So far, the EV6 has launched, and this year, Kia plans to release the EV6 and the Niro electric vehicle. The sales target for the global market in 2022 is set at 3.15 million vehicles. By 2030, the company aims to reach 4 million vehicles sold and increase the share of eco-friendly vehicles to 52%. Regionally, in the domestic market, North America, Europe, and China, Kia plans to sell 2.45 million vehicles, representing a 19% increase compared to its 2022 goal, while setting a target of 1.54 million vehicles in emerging markets like India.

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In the electric vehicle sector, Kia plans to launch the flagship EV9 in 2023 and introduce more than two electric vehicle models annually until 2027. The company aims to establish a full lineup of 14 electric vehicles. We expect to see the EV4, EV7, and EV9 soon, along with the anticipated electric pickup truck for the North American market. Kia's previous plan for electric vehicles included releasing a total of 11 models by 2026, but this now expands to include a dedicated electric pickup truck, an emerging market strategy electric pickup truck, and three entry-level economical electric vehicles.

The flagship electric vehicle, the EV9, is expected to showcase high competitiveness in the global market, following the EV6, which received the 2022 Germany Premium Car of the Year award. The EV9 measures 16.4 feet in length and, despite being a large SUV, boasts a maximum driving range of 335 miles on a single charge. A quick six-minute charge will provide a range of 62 miles, and it can accelerate from 0 to 60 mph in five seconds. In 2023, the EV9 will implement autonomous driving features, including Highway Driving Pilot (HDP), which requires no driver intervention on highway segments.

Starting in 2025, Kia will launch small and mid-sized (B/C segment) electric vehicles in Europe, and from 2024, it will locally produce mid-sized C/D segment vehicles and electric pickup trucks for the North American market. In China, the company plans to introduce mid-sized C/D segment electric vehicle models starting next year, and in India, it aims to produce entry and main A/C segment electric vehicle models from 2025.

Following the EV6, rumors have circulated about the EV4, EV7, and EV9, while speculation continues regarding a Telluride pickup truck in the North American market. There are also rumors about potential derivative electric vehicles, such as an electric version of the Sportage.

Analysts predict that the EV4 will be a compact SUV similar to the Seltos. They anticipate that it will target not only the domestic market but also the European and American markets. Competing models are expected to include the Mercedes EQA and the Volvo C40 Recharge.

The EV4's wheelbase is reportedly shorter than the EV6's 114.2 inches. Additionally, it is expected to feature a base rear-wheel electric motor with a maximum output of 225 horsepower, while all-wheel drive (AWD) and high-performance AWD options exceeding 300 horsepower will also be available. The battery capacity is set at 77 kWh, with a maximum driving range of over 310 miles based on WLTP standards on a single charge.

Recent reports indicate that the EV7 will handle the mid-sized SUV line. Unlike the EV6, it is expected to adopt a boxy design akin to the Sorento, and camouflaged vehicles have been reported in overseas media.

If the EV9 is categorized as a large SUV segment, the EV7 will fit into the mid-sized SUV segment. It is likely to launch in the domestic market and is expected to inherit the position of the Sorento, garnering significant popularity. It may utilize a platform similar to the Ioniq 7 or EV9, predicting a comparable or longer driving range.

Kia plans to implement over-the-air (OTA) wireless software updates for its models, allowing customers to selectively purchase software features based on their needs. The latest autonomous driving technology, including Level 3 HDP, will be integrated into its vehicles.

Kia anticipates that the demand for batteries will rise significantly, from 13 GWh this year to 119 GWh by 2030 due to the expansion of electric vehicle sales. The company aims to enhance its battery supply strategy and advance battery technology. It plans to source batteries from a joint venture in Indonesia and outsource from battery manufacturers. By 2030, Kia aims to increase battery energy density by 50% and reduce costs by 40%.

The autonomous driving technology will be branded as Auto Mode. Kia's Auto Mode will exceed the capabilities of Highway Driving Assist (HDA) by optimizing via OTA, implementing HDP for highway driving that requires no driver intervention, and supporting smart cruise control based on high-precision maps and autonomous lane changes. The company plans to achieve fully autonomous driving in the future.

Notably, all new vehicles launching in 2025 will receive performance updates via OTA, and all new vehicles released in advanced markets in 2026 will include autonomous driving features. Kia also presented a blueprint for its mobility business through purpose-built vehicles (PBV). Initially, PBVs derived from existing mass-produced vehicles will include the Ray one-passenger van and the Niro Plus, a taxi mobility service.

The Niro Plus is expected to serve as an electric taxi model in South Korea, utilized for the Car-Hailing service. Its design and layout will focus on convenience for passengers getting in and out, as well as maximizing space. In 2025, Kia plans to launch a PBV model based on a skateboard platform. As the Kia PBV market develops, it plans to expand from micro PBVs to larger PBVs.

Regarding future air mobility (AAM) and robotics, Kia plans to actively participate as part of the Hyundai Motor Group in next-generation businesses.

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