KIA announces presentation of affordable electric SUV EV5

With the celebration of the KIA Investor Day, the CEO of the brand has announced great news concerning future models and what are its objectives for electric vehicle registrations in the medium term. It is well known that the automotive group that makes up Hyundai and KIA (and Genesis in other markets) is currently fully focused on the development of electrical mechanics, as well as the formation of a complete range of zero-emission vehicles. On the occasion of the annual celebration of Investor Day, the CEO of KIA, Ho Sung Song, has confirmed several relevant news for the coming years in the Korean firm.

Among his many announcements, the CEO of KIA has confirmed a new sales target in which his range of 100% electric vehicles will account for 37% of global registrations by 2030, representing around 1.6 million awards. This is a significant increase compared to the objectives established in 2022, where there was talk of 1.2 million sales. Among the different hybrid and 100% electric variants, KIA expects these to account for 50% of its total by 2030, which is 2.38 million units.

In addition to its sales, KIA also positions the electric vehicle as the great protagonist in terms of net benefits for the Korean company. In his new strategy, Ho Sung Song ensures that they will represent 32% of general corporate profits by 2026 and 53% by 2030.

Going back a little further and combining both data, the CEO of KIA wants its electric cars to account for 53% of the economic benefits, while its sales represent 37% by the year 2030. This directly points to significant profitability on the part of electric cars, since although they barely exceed a third of total registrations, their income will account for more than half of the company. Part of this aforementioned profitability will be supported by a significant reduction in the cost of manufacturing batteries for the same year.

New electric cars for KIA

At the same time, Ho Sung Song has confirmed that the all-electric model range will consist of a total of 15 vehicles by 2027, including the well-known KIA EV6, KIA EV9, and KIA Niro EV. In the family of models, there will also be others such as the KIA EV5, the smallest electric SUV and which, according to what they say, will be fully presented in the fourth quarter of 2023.

KIA EV5

KIA’s global expansion of electric cars will be supported by its manufacturing plants located in Gwangmyeong, on the outskirts of Seoul; the American one where the KIA EV9 will be produced, as well as others in Europe that will produce small and medium electric vehicles for the Old Continent and China.

Among other data, Song mentioned that all its future electric models will offer a high-performance GT variant. Among them, we already know the spiciest version of the EV6 and by 2025 the EV9 will arrive. In addition to this, the CEO pointed out that the large electric SUV will land this year with an interesting Level 3 autonomous driving system. Meanwhile, by 2026, a technology that will admit “driving without eyes under certain conditions” will do the same.

The post KIA announces presentation of affordable electric SUV EV5 appeared first on Latest Car News.


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