Kia Corp. is set to showcase three new electric vehicles in Spain this month, accelerating its push into the mass-market segment where competitors like BYD Co. and Tesla Inc. are battling for dominance.
The South Korean automaker will reveal production versions of the EV4 sedan and PV5 purpose-built vehicle, along with a concept compact SUV called EV2, at its EV Day event in Tarragona. Chief Executive Officer Ho Sung Song will personally present the company’s electrification strategy at the gathering.
The EV4, which follows the EV6 and EV9 models already in the market, represents Kia’s attempt to break away from traditional sedan design conventions. The PV5, first previewed at CES 2024, will be built on a dedicated platform for commercial vehicles, featuring what the company describes as a robust yet futuristic design with distinctive lighting signatures.
Kia is betting big on purpose-built vehicles, with Song projecting the global market to reach 1.5 million units by 2030. The company aims to secure a 20% share of this segment, targeting sales of 300,000 units.
The EV2 concept, positioned as a versatile compact SUV for both urban and outdoor use, signals Kia’s intention to expand its presence in the entry-level electric vehicle segment, where Chinese manufacturers have been gaining ground with competitively priced offerings.
The event, scheduled for late February at the Tarraco Arena in Spain, comes as traditional automakers face increasing pressure to deliver affordable electric vehicles while maintaining profit margins.
