Kia is scaling up its investment in China. And it is planning to introduce new series of Electronic Vehicles(EV).
Korean Automaker Kia has signed an agreement with the Yancheng city government to expand its existing joint venture. Though yet the investment size has not been disclosed. Kia has done some struggle in recent years, in China. Kia is aiming to boost sales in China through a recently reorganized local joint company.
The company is going to launch EV6 next year. “EV6 inspires with a futuristic design, an available Augmented Reality(AR) head-up display, the spaciousness of a 5-passenger crossover, and up to 300 miles of targeted range on a single charge.”- as of Kia’s official site. Kia will release 6 EV models in China by the year – 2027.
The automaker is planning to hire more local employees. Also, it will invest more in advertising and marketing, as per the statement.
Its joint venture with the Yancheng government will support it in increasing production at its plant in northeastern Jiangsu province. Kia sold around 477,282 units in China in 2021, 28 percent less than in 2020, according to data compiled by the China Passenger Car Association (CPCA), as per source.
