KIA to invest ‘2 Lakh Crores’ for 14 electric & self-driving cars, SUVs, trucks & more!

The South Korean automaker KIA has announced its new EV strategy; by the year 2027, the company will have 14 fully electric vehicles listed globally. The manufacturer has stated that it aims to sell 4 million units per year globally by 2030. An estimated 2 million of these will be eco-friendly cars, of which 1.2 million will be fully electric.

New action plan
The new plan of action was announced at KIA 2022 CEO Investor Day, and it is much more comprehensive than the previous plan, which was to produce 11 fully electric cars by 2026. Two electric pickup trucks and an entry-level EV will be added to the lineup. KIA’s decision to add pickup trucks to its future plans is a strategic move, as pickup trucks are immensely popular in the North American market.

The car company Hyundai is preparing an entry-level electric vehicle for the Indian market that will be released in 2024. The EV will likely be sold in other international markets as well. This new market space will allow KIA to launch its own entry-level EV, which will arrive slightly later than Hyundai’s.

KIA’s focus on three main pillars 
The company is focused on three core elements – people, planet, and profit – with the goal of becoming a ‘sustainable mobility solution provider’. Over the next five years, Samsung plans to invest 28 trillion won (around 23.17 billion USD) into its electric vehicle business. The South Korean company hopes to be one of the world’s top manufacturers of PBVs (Purpose Built Vehicles).

KIA’s PBV
PBV will unveil its first dedicated product in 2025 based on a modular skateboard EV platform. KIA will launch a PBV version of Niro EV in 2022, named Niro Plus. Taxi and cab-hailing services will be offered with this car model.

KIA EV9 
KIA EV9 will go on sale internationally in 2023. This will be the company’s first vehicle with autonomous driving technology, called AutoMode. By 2026, the same tech will be available in other models in major international markets. The EV9 will be a big SUV. The model will have a length of approximately 5 metres and have a maximum driving range of around 540 km (336 miles).