Kia is following in the footsteps of Fordafter suddenly announcing plans to introduce more hybrid cars as it predicts lower demand for electric vehicles. To boost sales and compete with cheaper Chinese rivals, the company will introduce a new range of affordable hybrid electric vehicles starting this year.
See also: Kia Unveils New EV Cars
After global sales fell 2% last month, Kia is shaking things up with a new long-term business plan.
The new strategy, unveiled at Kia's 2024 CEO Investor Day, focuses on electrification. Kia announced that it is shifting its electric vehicle plans to include more hybrid and affordable electric vehicles.
Since its brand refresh in 2021, Kia has made noticeable changes to products , design and marketing efforts.
Kia President Song Ho-Sungannounced on Friday that we are “effectively responding to changes in the automotive market” with a new mid- to long-term strategy.
The company is actively responding to changes in the market with increased competitiveness and geopolitical uncertainties. Responding to “declining demand for electric vehicles,” Kia plans to launch more hybrids while introducing new low-cost electric models.
Kia predicts that the growth rate of electric vehicles will be lower than expected through 2026, due to the deterioration of the global economy and the reduction of subsidies.
See also: Hyundai and Kia take 2nd place in EV sales in the US
The Korean automaker is introducing hybrid versions of its most popular models, such as the Carnival HEV launched last year. Kia plans to have six HEVs in its lineup this year, eight by 2026 and nine by 2028.
With the new models, Kia predicts that hybrid vehicles will account for 12% of global sales, about 372,000 units this year. By 2028, Kia predicts that number will increase to 19% of sales, with about 800,000 units.
Kia isn't giving up on all -electric cars. It plans to boost demand with the launch of a range of new affordable electric vehicles. Kia will introduce six affordable electric vehicles in major markets, including North America, Korea and Europe. These will include the EV2, EV3, EV4 and EV5, which were revealed during Kia EV Day in October.
The new electric vehicles (EVs) are part of Kia's extensive model range that covers almost all segments with prices between $30,000 and $80,000.
See also: Hyundai and Kia recall 147,000 electric vehicles in the US
How do hybrid cars work?
Hybrid vehicles, such as those marketed by Kia, operate by switching between an internal combustion engine and an electric motor. During low-speed driving, the car uses the electric motor, saving fuel and reducing emissions. When accelerating or driving at high speeds, the car uses the internal combustion engine. The internal combustion engine can also be used to charge the battery , thus ensuring the car’s range. Hybrid cars also use energy recovery technology during braking. During this process, the energy that is normally lost during braking is converted into electrical energy and stored in the battery. Finally, hybrid cars have energy management systems that automatically decide when to use the internal combustion engine and when to use the electric motor, thus optimizing performance and fuel consumption.
Source: electrek
