The plans of Kia: nine electric cars in 2029

Carmakers are adjusting their plans to the shifting conditions of the automotive market, so over these weeks several are announcing what measures they will take in the coming years, after reviewing last year’s results. The brand that has just unveiled its plans for the immediate future in this case is Hyundai. On Friday 5 April, Kia Investor Day was held, where the brand’s goals for the end of the decade were announced.

The CEO of the company, Song Ho-Sung, told shareholders that the brand is responding quickly to the changes taking place in the automotive industry. Above all, he referred to the slowdown in electric car sales and the effects this may have on the industry’s future plans in general.

To remain a dominant player in the market, Kia is expected to keep working on electrifying its line-up, but now focusing on the development of hybrid models. Kia’s expectations are that the market share of this type of model will be 12%. This means they expect to sell around 372,000 units during 2024.

By 2028, Kia’s hybrid cars are expected to reach a total of 800,000 units, 19% of the total cars sold by the brand. But this does not mean they will stop developing and producing electric cars. In 2024 it will have six models of this type, while by 2026 it will reach eight electric models and by 2028 there will be nine electric models in Kia’s line-up.

There is expected to be a more affordable range of electric cars, with prices that could start at 25,000 euros and reach a maximum of 46,000 euros. That said, this information has no official confirmation, so it is something whose details are not yet known with precision.

Kia’s outlook with these electric car launches is to sell 131,000 units in 2024, growing gradually to reach 263,000 electric cars in 2025 and 587,000 units in 2026. One of these affordable electric cars will be the Kia EV3, which could be priced from 30,000 euros. Two of Kia’s Korean plants are receiving substantial investment to adapt their production to this type of vehicle, so the brand’s electric future appears secure.