Kia aims to raise EV sales ratio to 25 pct by 2029

SEOUL, Sept. 16 (Yonhap) — Kia Motors Corp., South Korea’s second-biggest carmaker, said Wednesday it will raise the sales ratio of electric vehicles to 25 percent by 2029 by launching dozens of new models in global markets.

Kia has sold more than 100,000 units of the Ray, Soul and Niro EV since 2011.

“The company will put a bigger focus on electrified models to meet rising demand for zero-emission vehicles,” Kia President Song Ho-sung said in the statement.

As of 2019, EVs accounted for only 1 percent of Kia’s total sales, the company said.

Kia said it will beef up its EV lineup with 11 models by 2025, with an electricity-powered crossover utility vehicle under the project name of CV scheduled to be released next year.

From January to August, its sales fell 1.9 percent to 1,808,100 vehicles from 1,842,823 units a year earlier amid the coronavirus’ impact on consumer sentiment.