Kia is following in Ford’s footsteps after suddenly announcing plans to introduce more hybrids as it expects slower EV demand. To boost sales and fend off low-cost Chinese rivals, Kia will introduce a new lineup of affordable EVs in addition to hybrids starting this year.
After global sales slipped 2% last month, Kia is shaking things up with a new mid-to-long-term business plan.
The new strategy, revealed at Kia’s 2024 CEO Investor Day on Friday, is centered around electrification. Kia announced that it is shifting its electric vehicle plans to include more hybrids and affordable EVs.
Since its major re-brand in 2021, Kia has made noticeable changes in its products, design, and marketing efforts.
Kia’s president, Song Ho-Sung, announced Friday that “We are responding effectively to changes in the automobile market” with a new mid-to-long-term strategy.
The company is actively responding to changes in the market with increased competition and geopolitical uncertainties. In response …
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