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Kia to launch 7 new platform-based EV models by 2027

All News 11:51 January 15, 2021

SEOUL, Jan. 15 (Yonhap) -- Kia Corp., South Korea's second-biggest carmaker by sales, said Friday it will launch seven all-electric models by 2027 to gain a share of the growing electric vehicle market.

Kia said it will release its pure electric crossover model based on a new EV platform called the electric-global modular platform (E-GMP) in the first quarter, the company said in a statement.

The new vehicle with the project name of "CV" will be the first global model to bear Kia's new logo. It also comes with a battery that enables an electric driving range of over 500 kilometers and a high-speed charging time of under 20 minutes, it said.

Kia also plans to introduce sedans, sport utility vehicles and multi-purpose vehicles based on the new EV platform for the next seven years.

The maker of the K5 sedan and the Telluride SUV plans to beef up its EV lineup with 11 models, including the seven E-GMP-based ones, by 2025.

With its strengthened EV lineup, it aims to achieve a 6.6 percent share of the global battery-powered EV market by 2025 and global annual sales of 500,000 units by 2026.

Kia's current EV market share is not available as its EV sales accounted for only 1 percent of its overall sales in 2019.

This file photo provided by Kia Corp. shows its headquarters building with its new company logo in Yangjae, southern Seoul. (PHOTO NOT FOR SALE)(Yonhap)

Kia announced the EV plans at an online showcase event in which it also announced details of its new brand and slogan strategy.

Kia recently changed its corporate name from Kia Motors Corp. to Kia Corp., signaling the brand breaking away from its traditional manufacturing-driven business model. It also changed its brand slogan from "The Power to Surprise" to "Movement that inspires."

"We are breaking away from our traditional manufacturing-driven business model and expanding into new and emerging business areas by creating innovative mobility products and services that meet customer needs," Kia President Song Ho-sung said in the showcase.

Kia Senior Vice President Artur Martins in charge of the company's global brand and customer experience division said, "Movement has always been at heart of our brand, and moving people at the core of our business. Movement helps humankind to constantly progress, improve and evolve. That is why at Kia we believe that movement inspires ideas."

A company slogan is a short phrase that follows its brand name in advertisements and marketing materials. It can be a powerful marketing tool as is the case with Nike's "Just Do It" and Apple's "Think Different."

Kia's new company logo and slogan in a photo provided by the company (PHOTO NOT FOR SALE) (Yonhap)

kyongae.choi@yna.co.kr
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