“Kia plans to launch an all-electric sedan in the world's largest auto market next year,” the company said in a statement quoted from Yonhap on Tuesday.
However, the automotive company has not provided complete details regarding the specifications of the planned EV model.
Kia is also aiming to increase sales in China, through a recently reorganized local joint venture. In 2002, Kia founded Dengfeng Yueda Kia, a 50:25:25 joint venture with Dongfeng Motor Corp. and Jiangsu Yueda Group, to enter the Chinese market.
Jiangsu Yueda recently acquired Dongfeng Motor's 25 percent-owned stake in the joint venture. The joint venture has become a 50:50 joint venture between Kia and Jiangsu Yueda.
Kia said the reorganized joint venture would allow a “quick and effective decision-making process” to select models for local consumers and increase sales.
The maker of the K5 sedan and SUV Sorento has struggled with weak sales due to the protracted fallout from a diplomatic row between Seoul and Beijing over the deployment of a US anti-missile system called THAAD in South Korea in 2017.