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Kia celebrates the completion of Hyundai Motor Group's first dedicated EV manufacturing facility Kia Gwangmyeong EVO Plant, located at Kia Autoland Gwangmyeong, to mass-produce Kia EV3 and EV4 models The new facility to have production capacity of 150,000 units per year Previous internal combustion engine (ICE) vehicle plant transformed to facilitate EV production and accelerate delivery of Kia's strategic sustainable manufacturing and mobility goals Cutting-edge manufacturing initiatives include water-based painting as well as automated processes The EVO Plant to set a new era for Kia's move towards electrification, through production of the brand's high quality EV lineup SEOUL, South Korea, Sept. 27, 2024 /PRNewswire/ -- Kia Corporation has today celebrated the opening of Kia Gwangmyeong EVO Plant, Hyundai Motor Group's (the Group) first dedicated EV manufacturing facility. Kia Gwangmyeong EVO Plant Opens to Significantly Expand EV Production Located at Kia Autoland Gwangmyeong, the new South Korean facility has an annual production capacity of 150,000 units and started production of the Kia EV3 in the first half of this year, to be followed by the EV4 in the first half of 2025. Derived from the term 'Evolution', the Kia Gwangmyeong EVO Plant demonstrates how Kia will continue to change and move forward as it aims to become a leader in the future of mobility. To celebrate the completion of the project, Kia hosted around 150 guests during a ceremony at the new Kia Gwangmyeong EVO Plant, including Jun Young Choi, Executive Vice President and Head of Domestic Production Division at Kia; Seung Won Park, Mayor of Gwangmyeong City; and O Kyeong Lim and Nam Hee Kim, Members of the 22nd National Assembly of the Republic of Korea. "The completion of the Kia Gwangmyeong EVO Plant solidifies Kia's first step as an EV leader following the company's brand relaunch in 2021. With the goal of providing sustainable mobility solutions, we will lead innovation in the EV market and fulfil our responsibilities in helping to deliver a sustainable future", said Jun Young Choi, Executive Vice President and Head of Domestic Production Division at Kia, during a welcoming speech at the event. Seung Won Park, Mayor of Gwangmyeong City also added, "The completion of the Kia Gwangmyeong EVO Plant will help Gwangmyeong City to establish itself at the center of the EV industry in Korea. Through this we will strive to promote sustainable development of the local economy and create more jobs." In order to flexibly respond to changes in global demand for EVs, Kia has been steadily preparing for EV production at its global facilities. The Gwangmyeong EVO Plant is a dedicated EV facility, with an investment total of KRW 401.6 billion over approximately 60,000 square meters and will serve as an outpost for production of Kia's popular EV models. Kia has spent approximately one year transforming Gwangmyeong Plant 2, which was completed in 1987 to produce small internal combustion engine vehicles such as the Kia Pride, Avella and Stonic. The Kia Gwangmyeong EVO Plant is also meaningful in that it is the Group's first dedicated EV plant and a facility that has been completely rebuilt on an existing plant site to become a hub for next-generation vehicle production.
Alliance to strengthen the connection between software-developed vehicles (SDVs) and smartphones to secure a leading position in the mobility service ecosystem Hyundai Motor and Kia to develop a next-generation infotainment system and an open ecosystem in collaboration with 42dot to provide a user-centered environment The agreement to also boost the connectivity of Hyundai Motor and Kia's next-generation infotainment system with Samsung's global 'SmartThings' platform Hyundai Motor, Kia and Samsung plan to develop technology that links SDVs and smartphones, creating services optimized for customers' lifestyles and tastes Create an open ecosystem and develop services for convenient mobility experiences by sharing vehicle data application programming interfaces (APIs) SEOUL, South Korea, Sept. 25, 2024 /PRNewswire/ -- Hyundai Motor Company and Kia Corporation announced a strategic technology partnership with Samsung Electronics to enhance the integration between software-defined vehicles (SDVs) and smartphones, aiming to secure a leading position in the mobility service ecosystem. (Photo 1) (From left) Chang Song, President and Head of Hyundai Motor Group Advanced Vehicle Platform (AVP) Division; Paul (Kyungwhoon) Cheun, President, CTO of DX Division at Samsung Electronics and Head of Samsung Research The signing ceremony was held today at Samsung Electronics Seoul R&D Campus, with attendees including Chang Song, President and Head of Hyundai Motor Group Advanced Vehicle Platform (AVP) Division; Haeyoung Kwon, Vice President and Head of Hyundai Motor Group Infotainment Development Center; Paul (Kyungwhoon) Cheun, President and Chief Technology Officer (CTO) of Device eXperience (DX) Division at Samsung Electronics and Head of Samsung Research; and Jinhee Choi, Senior Executive Vice President of 42dot. Hyundai Motor and Kia are gearing up for the SDV era, anticipating a variety of in-vehicle services. To that end, they are working on a next-generation infotainment system and an open mobility ecosystem, in collaboration with Hyundai Motor Group's global software center, 42dot. This development aims to provide a user-centered vehicle environment, enhancing the connectivity of the infotainment system set to be unveiled in 2026. "Our goal is to enrich Hyundai Motor and Kia customers' mobility experience by offering personalized services that extend beyond transportation, seamlessly integrating vehicles with smartphones," said Chang Song, President and Head of Hyundai Motor Group Advanced Vehicle Platform (AVP) Division. As a result of the agreement, Hyundai Motor and Kia will develop technology to organically link SDVs and the smartphone ecosystem using Samsung Electronics' 'SmartThings'. By integrating with the global Internet of Things (IoT) platform, they aim to enrich customers' mobility experiences, seamlessly connecting the entire process of vehicle use to smartphones and accelerating the transition to true SDVs. "Through our collaboration with Hyundai and Kia, customers will experience the convenience of SmartThings not only at home but also in their vehicles, transcending space," said Paul (Kyungwhoon) Cheun, President, CTO of DX Division at Samsung Electronics and Head of Samsung Research. "We will continue to expand the SmartThings ecosystem, offering new lifestyles and value to even more customers." Through this strengthened connectivity, Hyundai Motor, Kia and Samsung Electronics will introduce a service for vehicle location verification. It will be expanded and advanced through integration with 'SmartThings Find,' offering a global vehicle location tracking service. The service is accessible via a crowdsourced network of hundreds of millions of Samsung Galaxy devices that use the Bluetooth Low Energy (BLE) technology to report their location, without restrictions related to cellular coverage. Customers can easily check their vehicle's location through the Connected Car Service app in unexpected situations, such as forgetting where they parked or in case of theft. Even Hyundai or Kia customers whose vehicles aren't registered with the Connected Car Service can check the location through the Samsung SmartThings app. Hyundai Motor and Kia will also simplify the new member registration process by linking user accounts with Samsung Electronics. In the future, they plan to provide services optimized for customers' lifestyles and tastes, such as healthcare, pet care and vehicle interiors, and continue to cooperate with Samsung Electronics to provide new mobility experiences. Hyundai Motor and Kia, together with 42dot, plan to seamlessly connect vehicles and smartphones and continuously introduce new services, aiming to make all daily experiences user-centered. They also plan to continuously develop services for convenient and enjoyable mobility experiences by sharing vehicle data application programming interfaces (APIs) and software development kits (SDKs) with various business partners, including Samsung Electronics, through the next-generation infotainment system based on an open ecosystem. Hyundai Motor and Kia also intend to hold the '2025 Developer Conference' in the first half of next year and announce plans to build an SDK, where external developers can directly participate and develop 'killer apps' as well as a vehicle app market for SDVs. (Photo 2) (From left) Jinhee Choi, Senior Executive Vice President of 42dot; Haeyoung Kwon, Vice President and Head of Hyundai Motor Group Infotainment Development Center; Chang Song, President and Head of Hyundai Motor Group Advanced Vehicle Platform (AVP) Division; Paul (Kyungwhoon) Cheun, President and Chief Technology Officer (CTO) of Device eXperience (DX) Division at Samsung Electronics and Head of Samsung Research; Seungbeom Choi, Executive Vice President and Head of Device Platform Cente
Kia EV3 offers accessible, sustainable electric mobility as part of elevated SUV experience World-first cutting-edge technologies enable customers to unlock new dimensions from EV3, enhancing driving and ownership experience Kia plans to introduce an AWD variant as well as a GT model, expanding the range of choice beyond the current 2WD models. SEOUL, South Korea, Sept. 11, 2024 /PRNewswire/ -- When Kia unveiled the EV3 in May this year, the brand showcased a vehicle that would make effortless, sustainable mobility more accessible. To deliver on that commitment, Kia's new compact all-electric SUV features industry-leading technology, a WLTP driving range of up to 600km and fast-charging capability. Kia EV3 offers accessible, sustainable electric mobility as part of elevated SUV experience Kia EV3 offers accessible, sustainable electric mobility as part of elevated SUV experience Kia was determined to create an all-electric SUV that would raise the bar for what's expected of a compact electric model. Achieving this meant drawing up an entirely new set of parameters, enabling customers to enjoy a range of lifestyle and driving features previously unavailable in this sector. Pioneering world-first technology sits at the heart of the EV3, with Kia's engineers ensuring these innovations bring genuine benefits to the EV3's occupants. i-Pedal innovations Kia has evolved its regenerative braking technology for the EV3 with its upgraded i-Pedal 3.0, which takes the concept of one-pedal driving to the next level to deliver greater enjoyment and efficiency. It offers the driver much more flexibility and control by separating the level of regenerative braking from the full stopping control function. Smart tech for stress-free driving The Kia EV3 is the first car to feature Hyundai Motor Group's Smart Regenerative System 3.0 technology. While Kia's previous system relied solely on GPS information, this latest version incorporates a wider variety of navigation-based data, unlocking an array of advantages for the driver. Reassuring range and advanced aerodynamics The EV3 is equipped with the largest battery in its class. The 81.4 kWh fourth-generation unit boasts approximately 22 percent higher energy density compared with the Niro EV. Combined with variety of aerodynamic features, the EV3 glides smoothly through the air with a drag coefficient of 0.26Cd. Efficient driving in all conditions The EV3 is the first vehicle in the world to deploy a simultaneous heat absorption system, enabling it to recycle waste heat not just from the vehicle, but also outside air to optimize efficiency. The advanced heat pump technology significantly improves its ability to protect battery performance and charge quickly in cold weather. For more information, please visit www.kianewscenter.com
- Ongoing support from Kia has enabled the removal of over one million pounds of plastic from the Great Pacific Garbage Patch (GPGP) - Partnership with The Ocean Cleanup aligns with Kia's strategic transformation into a sustainable mobility solutions provider SEOUL, South Korea and SAN FRANCISCO, Sept. 8, 2024 /PRNewswire/ -- Kia Corporation and global partner The Ocean Cleanup are today celebrating a significant milestone in their joint strategy to tackle plastic pollution in the world's oceans. Symbolically returning to the port of San Francisco from which the first-generation System 001 vessel embarked on its maiden voyage six years ago, The Ocean Cleanup's current System 03 has completed a significant haul. Kia and The Ocean Cleanup celebrate partnership achievements and map out future for cleaning Great Pacific Garbage Patch Since the establishment of the partnership in 2022, Kia's support has helped The Ocean Cleanup remove over one million pounds of plastic from the world's largest accumulation of floating waste – the Great Pacific Garbage Patch (GPGP). In a significant step towards achieving its mission of ridding the world's oceans of plastic, The Ocean Cleanup has announced a clear timeline to clean up the GPGP. While data gathered during this season's operations suggests that the GPGP could be cleaned within 10 years thanks to identified technological improvements, the global NGO is pushing boundaries and aims to halve the time needed to clean the GPGP to five years. Charles Ryu, Senior Vice President and Head of the Global Brand & CX Division at Kia Corporation, said: "All of us at Kia extend our warmest congratulations to The Ocean Cleanup team for its continued dedication and hard work as the only organization actively tackling plastic pollution in the GPGP. We are honored to be a key supporter of its ocean cleanup activities and look forward to an even more ambitious chapter of our partnership as System 03 and operations are improved to shorten the timeline for cleanup." "The Ocean Cleanup is an international non-profit and our operations are reliant on our incredible partnerships", said Boyan Slat, Founder and CEO of The Ocean Cleanup. "Our partnership with Kia is setting a new standard for how organizations can drive real change. Together, we're proving that innovation and commitment can rid the oceans of plastic and inspire others to follow. The products born from this collaboration will symbolize our shared progress and the tangible impact of sustainable solutions."
Kia's S&P Global credit rating upgraded from 'BBB+' to 'A-', achieving an 'A' rating from the world's top three credit agencies this year High worldwide evaluations reflect Kia's product and brand competitiveness, profitability, financial soundness and global market position SEOUL, South Korea, Aug. 22, 2024 /PRNewswire/ -- Kia Corporation (Kia) announced that the global credit rating agency S&P Global has upgraded the credit rating from 'BBB+' to 'A-'. S&P Global presented a 'Stable' credit rating outlook for the company. With this rating upgrade, Kia has received an 'A' credit rating from all three of the world's major credit rating agencies this year, following 'A3' and 'A-' upgrades from Moody's Investors Service and Fitch Ratings respectively in February. These high worldwide evaluations reflect the company's product and brand competitiveness, profitability, financial soundness and global market position. S&P Global divides ratings into 22 levels from AAA to D to evaluate the credit of a country or company. The 'A-' rating, the seventh highest credit rating, means that the credit status is good, and the credit risk is significantly low. S&P Global based the upgrade on Kia's stronger market position, which has led to solid profit and cash flow. This follows three years of marked enhancement in profitability starting in 2021. This stems from market share gains, product mix improvements, and some exchange rate tailwinds. Also, they forecasted that the company's balanced portfolio, including both EV and hybrid models, will enable it to adapt to market changes during the electrification transition. The 'Stable' outlook reflects the expectation that Kia will maintain robust profitability over the next 12-24 months. Only six major global automotive companies, including Kia and Hyundai Motor Company, along with Toyota, BMW, Mercedes-Benz, etc., have achieved an A rating in S&P Global's credit rating evaluation. Kia plans to continue efforts to maintain financial soundness and strengthen global competitiveness by responding flexibly to market changes. For more information, visit the Kia Global Media Center at www.kianewscenter.com
Kia drives forward transformation into 'Sustainable Mobility Solutions Provider' Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand Goal to sell 1.6 million EVs annually in 2030, introducing 15 models PBV to play a key role in Kia's growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally CEO reaffirms Kia's commitment to ESG management SEOUL, South Korea, April 5, 2024 /PRNewswire/ -- Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea. 2024 CEO Investor Day Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape. During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand's 2024 annual goal of 3.2 million units. The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia's total sales in 2030. "Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company's transition to a sustainable mobility solutions provider," said Ho Sung Song, President and CEO of Kia. "By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment."
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