South Korean automaker KIA will be launching six electric vehicles in China by 2027 to reach consumers there.
“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.
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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.
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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.
