TOKYO — Kia is dumping “Motors” from its company identify as component of a world model relaunch intended to place the South Korea automaker as a mover in electrical autos and new mobility.
In switching its name to Kia Corp., from Kia Motors Corp., the company is reaching for a new identification that improved demonstrates its press into new fields, CEO Ho Sung Track claimed in news release. The shift follows the adoption of a new organization emblem and slogan this thirty day period.
“Switching our corporate name and logo is not only a cosmetic improvement,” reported Track, who took the helm past April. “It represents us growing our horizons and creating new and emerging organizations that fulfill and exceed the various requires of our shoppers around the world.”
The new course targets a mass ramp-up of EVs by means of 2025 and a quick enlargement into what the business phone calls reason-crafted autos, or PBVs. These are runabouts focused to new mobility enterprises these kinds of as ride-hailing, robotaxis and on-the-go e-commerce.
Underneath its Plan S midterm organization plan, Kia needs to construct an EV lineup of 11 versions by 2025, with seven EV-only products by 2027. Kia hopes to get 6.6 p.c of the international battery-electric powered auto market place by 2025 and rack global yearly revenue of 500,000 EVs by 2026.
Kia desires EVs to create 20 p.c of its around the globe sales by 2025 and a quarter in 2029.
The enterprise reported its very first dedicated EV will be delivered in the initially quarter of this yr, crafted on a new Electrical-Global Modular Platform, or E-GMP, shared with Hyundai.
It will be a crossover-motivated structure, with a range of additional than 310 miles and a higher-pace charging time of significantly less than 20 minutes, Kia claimed. The product will be the very first bearing Kia’s new logo.
The enterprise did not say below what screening protocol the EV’s range was calculated.