Latest news with #SongHo-sung
Korea Herald
20-04-2025
- Automotive
- Korea Herald
Kia wins World Car of the Year for 2nd consecutive year
Carmaker's EV3 electric compact comes out on top among 52 candidates Kia has once again claimed the automotive throne this year, winning top honors at the 2025 World Car Awards for the second year in a row. The Korean automaker's EV3, an electric compact sport utility vehicle, was named the World Car of the Year at the New York International Auto Show last week. It received an overall score of 780 points to beat out the two other top contenders -- the Hyundai Casper Electric with 764 points and the BMW X3 with 754 points. According to the World Car Awards committee, a jury of 96 international automotive journalists from 30 countries selected the top three cars of the year worldwide by secret ballot based on their evaluations of each vehicle. The Kia EV3 was picked as the best vehicle of the year from a long list of 52 contending cars across the globe, which passed the eligibility hurdles that require production volume of at least 10,000 units per year, a price lower than the luxury car level in their primary markets, and availability in at least two major markets among China, Europe, India, Japan, Korea, Latin America and the United States. Of the ten evaluation categories, the Kia EV3 scored the highest in efficiency, at 8.3 points, as the vehicle features up to 605 kilometers of driving distance per charge based on the Worldwide Harmonized Light Vehicles Test Procedure. 'It is an immense honor for everyone at Kia that the EV3 has been awarded the 2025 World Car of the Year title,' said Kia CEO Song Ho-sung. 'This award highlights Kia's global leadership in providing design-led, technologically advanced, sustainable mobility solutions and how the EV3's class-leading attributes redefine the user experience for customers worldwide.' At the World Car Awards last year, the top trophy went to Kia's EV9, an electric three-row SUV. With the latest triumph by the EV3, Kia has now won three top awards in the 21-year history of the World Car Awards, including World Car of the Year for the Kia Telluride in 2020. The Kia EV3 has also won car of the year awards in Denmark, Finland, Korea and the United Kingdom.
Korea Herald
17-04-2025
- Automotive
- Korea Herald
Hyundai, Kia sweep 2025 World Car Awards
Hyundai Motor Company's Casper Electric and Kia's EV3 on Thursday won World EV of the Year and World Car of the Year, respectively, at the 2025 World Car Awards, marking four consecutive years of recognition for the brands' EV fleet. With this achievement, Hyundai Motor Group has won the top honor, World Car of the Year, five times over the past six years, starting with the Kia Telluride SUV in 2020. The automaker's electric vehicles then went on to claim the title for four years straight with the Ioniq 5 in 2022, Ioniq 6 in 2023, EV9 in 2024 and EV3 in 2025. Competing against 52 models, including Hyundai Motor's Casper Electric and BMW X3, the EV3 was recognized as the best. Notably, the long-range model of the compact full-electric SUV boasts a driving range of 501 kilometers on a single charge and allows for fast charging from 10 to 80 percent in 31 minutes with a 350-kilowatt charger. It also offers various convenience features such as spacious first and second-row seating, an extendable sliding console table and 485 liters of trunk space to maximize storage. 'This award highlights Kia's global leadership in providing sustainable mobility solutions through innovative technology and exceptional design,' stated Kia President and CEO Song Ho-sung. 'The EV3 offers a new user experience with top-tier product competitiveness worldwide.' Hyundai's Casper Electric, also known as the Inster, outpaced Porsche Macan Electric at the awards, demonstrating its strong product competitiveness in global markets. The compact EV offers 315 kilometers of range per charge and 30 minutes of charging with a 120-kilowatt charger. The automotive award, a prestigious global accolade since 2004, was announced during the New York International Auto Show, where Hyundai Motor and Kia showcased their flagship vehicles targeting the US market. Hyundai Motor unveiled the all-new Palisade, set to launch in the US later this year. The large-sized three-row SUV adds a hybrid version alongside the gas-powered model for the first time. Hyundai Motor Company President and CEO Jose Munoz noted, 'The launch of new models like the Palisade, which features both internal combustion and hybrid powertrains, signifies Hyundai's strong portfolio and diverse powertrain options. …Hyundai is also investing in extended-range electric vehicles, hybrids, internal combustion engines and hydrogen fuel cell cars.' Outlining the company's business plan, Munoz added that Hyundai plans to expand its EV lineup to 21 models and increase hybrid offerings to 14 models, aiming to achieve annual sales of 2 million electrified vehicles by 2030. According to Hyundai Motor North America CEO Randy Parker, the carmaker has set new records for the US market for four consecutive years, with retail sales increasing by 4 percent in 2024 from the previous year. From January to March, sales rose by 10 percent on-year, marking an all-time high first-quarter performance. Kia debuted the EV4, its first all-electric sedan, which it expects to roll out in the first quarter of 2026. The new K4 hatchback model also made its global premiere, with sales scheduled to begin in the fourth quarter of this year.
Yahoo
17-03-2025
- Automotive
- Yahoo
Kia reappoints CEO Song Ho-sung for third term
South Korean automaker Kia Corporation has reappointed Song Ho-sung as its CEO for another three-year term, after the company's shareholders voted in favour of extending his leadership at the annual shareholders meeting in Seoul last week. The vote was an endorsement of Song Ho-sung's leadership over the last six years, which has seen the automaker grow its global sales from 2.6 million units in 2020 to 3.1 million units in 2024, generating annual revenues of over KRW100trn for the first time last year. The company's actual revenues increased by almost 8% to KRW107trn (US$74bn) in 2024. At the shareholders meeting, Song Ho-sung confirmed the automaker's commitment to driving up electric vehicle (EV) usage globally and expanding its purpose-built vehicle (PBV) business. Kia is targeting a 4% increase in global sales to 3.22 million units in 2025, with a medium-term target of delivering more than 4.3 million vehicles by 2030, including 1.6 million battery electric vehicles (BEVs). In the first quarter of this year the automaker unveiled the Tasman, the company's first-ever pickup truck, and the EV4 battery-powered sedan. In January the company launched production of the Syros in India, a small SUV specifically designed for the local market. Kia also plans to release a battery-powered PBV model every two years, starting with the PV5 later this year, followed by the PV7 in 2027 and the PV9 in 2029. Also at the meeting, Kia's shareholders approved an amendment to the company's articles of incorporation to include real estate development as one of its businesses, to reflect its plan to build a network of wholly-owned flagship stores. "Kia reappoints CEO Song Ho-sung for third term" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Korea Herald
14-03-2025
- Automotive
- Korea Herald
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.
Korea Herald
04-03-2025
- Automotive
- Korea Herald
Kia CEO expresses confidence in new opportunities despite increasing global trade risks
Song Ho-sung, president and chief executive officer of Kia Corp., on Tuesday expressed confidence in turning increasing global trade and business uncertainties for the South Korean automaker into opportunities for further growth. In a letter to shareholders published on Kia's website, Song assessed that the globalization trend of the past half-century was "shifting toward regionalism and nationalism," while also reshaping international trade dynamics. Song also noted that increasing regulatory challenges, such as emissions and fuel efficiency requirements, continue to accelerate the industry's transition to eco-friendly vehicles. He acknowledged that such changes pose risks not only to Kia but also to the broader automotive sector, while emphasizing that such changes present opportunities for market players who are prepared. "During the COVID-19 pandemic, when supply chain disruptions affected the entire automotive industry, Kia introduced a diversified vehicle lineup, a flexible global production network and swift supply chain adjustments to turn the crisis into an opportunity to expand our global market influence." He stressed that geopolitical shifts and regulatory barriers will serve as opportunities for Kia to strengthen its market position through competitive eco-friendly models, and an agile business and production structure. (Yonhap)
