Kia to complete EV lineup by next year: CEO
Korean automaker aims to lead mass adoption of EVs with affordable models
Kia has reaffirmed its plan to complete a full lineup of electric vehicles with launches of three new all-electric models through next year, aiming to lead the popularization of EVs.
'The full lineup of mass-market models ranging from the EV2 to EV5 will secure the same level as internal combustion engine vehicles in terms of the (total cost of ownership),' said Song Ho-sung, CEO of Kia, during the company's general meeting of shareholders held at El Tower in southern Seoul on Friday.
'This will enable customers to experience the outstanding performance of Kia EVs at a reasonable price and will lead the mass-adoption of EVs.'
Starting with the launch of the Kia EV3, a battery-powered sport utility vehicle, the Korean automaker plans to debut two more electric SUVs in the EV2 and EV5, as well as the EV4, its first electrified sedan.
The Kia CEO also emphasized that the automaker will expand into new market segments this year with the launch of PV5, the first model featuring the company's Platform Beyond Vehicle solution, and the market debut of the Tasman, the brand's first pickup truck.
Pointing out the automaker's priority on digitalizing customer experiences, Song said, 'Kia's next-generation (software-defined vehicle), which we plan to finish developing in 2026, will be presented as a car integrating software and hardware by combining autonomous driving and connectivity on the basis of electronic architecture and an automotive operating system.'
The CEO said the company expects to sell 3.22 million vehicles this year, up 130,000 units from 2024, as it enters a cycle of new vehicle launches. Kia forecast that it will log 12.4 trillion won ($8.5 billion) in operating profit with an operating profitability of 11 percent this year despite conservative projections due to intensifying competition worldwide and external uncertainties.
Kia announced it will raise its dividend to 6,500 won per share this year, an increase of 900 won from last year. The automaker also unveiled that it has added real estate development to its business scope, saying that the automaker plans to build new flagship stores -- integrated showrooms that offer test drives, on-site purchases, maintenance and repair services and brand experiences.
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