Kia EV5 Set to Debut in Q4 2023, Targets 1.6 Million EV Sales by 2030

Kia President & CEO Ho-Sung Song

Kia 2023 CEO Investor Day saw the automaker making several big business announcements, including the four core strategies to transform the automaker into a ‘Sustainable Mobility Solutions Provider’.

In achieving so, the South Korean automaker is poised to launch its latest EV crossover, the Kia EV5 by the end of this year, alongside other refreshed models including the next-gen Kia Rio and a small EV model named Kia Ray. The marque’s latest EV SUV will make its debut into the Chinese market first, where the concept version of it already debuted in the Great Wall republic earlier this year.

The EV5 concept is basically a mini EV9, boasting the exact boxy SUV silhouette as the bigger model, primed with futuristic-looking lights design. As for now, Kia has yet to unveil any additional details on the EV5, but we should expect to know some of them prior to its production commencement.

By the end of this year, Kia’s dedicated EV line-up will be tripled, as both the EV9 and EV5 are set to join the marque’s sole dedicated EV offering, the Kia EV6.

As for the next-gen Rio, Kia is planning to kick-start its production by Q4 this year at the firm’s plant in Mexico, where the current-gen Rio is assembled. Meanwhile, Kia’s latest subcompact EV, the Kia Ray, is set to debut earlier in Q3 this year. Unfortunately, the automaker has yet to reveal additional details on both models, as for now.

Kia Sorento SUV (left) & Kia Carnival MPV (right)

Aside from the three aforementioned models, Kia also plans to facelift at least five existing models in their line-up, with all of them will debut by the end of this year. Though no specific models are mentioned by the automaker, numerous speculations have pointed towards several Kia models that are due for a mid-life update like the Sorento, Picanto, K5, as well as the Carnival MPV.

As mentioned earlier, Kia has unveiled its long-term plan to be a major player in the electromobility segment. In the long run, the automaker aims to sell 1.6 million EVs by the end of this decade, while expanding its EV line-up by up to 15 models by 2027. Not betting on EVs alone, the firm also targets the sales of electrified vehicles to reach 55% of its total deliveries by 2030.

Apart from launching new EV models, the firm is also plotting to refurbish its Gwangmyeong plant for EV production, with the short-term goal to kick off the production of two models in 2024. Elsewhere, Kia will also begin EV production at its international facilities like in the US, Europe, China, as well as India.

Beyond the passenger cars segment, Kia also plans to set up a purpose-built vehicle (PBV) business by 2025. This new business will see Kia establishing a full PBV line-up made of mid-size autonomous robotaxis and many more – all powered by electric.