During Kia’s Investor Day 2024, Ho Sung Song, the president and CEO, unveiled plans to launch two new models, including the Carens EV, targeting emerging markets like India to cater to diverse consumer demands.
Upcoming EV Line-up and Market Penetration
Song emphasized a strategic approach of introducing flagship EV models followed by mass-market EVs to enhance consumer accessibility. In addition to the EV9 flagship set for a 2024 launch in India, Kia plans to unveil the Carens EV and the Clavis EV in the second half of 2025, aiming to boost its presence in the electric vehicle segment.
Key Milestones and Market Projections
The company’s roadmap includes the introduction of a mass-market electric SUV, codenamed AY-EV (likely to be named Kia Clavis), slated for launch alongside the Carens-based EV (KY-EV) in late 2025. Kia estimates combined sales volumes of 50,000-60,000 units by 2026 from these EV models alone.
Aggressive EV Sales Targets
Kia’s ambitious goal for 2026 is to achieve sales of 587,000 units of mass-market EVs, representing 66 percent of total EV sales. Song highlighted plans to capture market share through a comprehensive EV line-up, leveraging Purpose Built Vehicles (PBVs) to stimulate demand and focusing on quality customer experiences, especially in emerging markets like India.
Future Outlook and EV Expansion Plans
Looking ahead, Kia plans to launch a total of 15 EV models by 2027, with six mass-market models introduced in major markets. The company aims for 1.6 million EV unit sales by 2030, representing a substantial increase from current levels, driven by anticipated global CO2 reduction regulations and declining EV prices.
In summary, Kia’s strategy underscores a robust commitment to EV expansion, positioning the company to capitalize on evolving consumer preferences and regulatory shifts towards sustainable mobility.
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