Recently, Kia China announced its new energy strategy and officially entered the Chinese electric vehicle market. Kim Kyung-hyun, General Manager of Kia China, said that by 2027, Kia China will launch six EV models; By 2030, its annual sales volume will hit 450000 vehicles, including 180000 EV models, accounting for 40%.

　　According to the plan, Kia China's first pure electric vehicle EV6 will be imported and is expected to go on sale in August this year; The first global model produced in China, the medium-sized pure electric SUV EV5, will be launched in November this year. In addition, Kia plans to launch its flagship electric SUV EV9 in 2024 and a high-end electric sedan based on a new generation of electric vehicle dedicated platforms in 2026.

　　Song Husheng, CEO of Kia Global, said, "Ensuring the success of the Chinese market is a core element of Kia's global strategy." Jin Jingxuan also said, "This new energy strategy conference demonstrates the firm belief and determination of Kia Global and Kia China to face the Chinese automotive market. In the future, Kia China will unswervingly promote the new energy strategy released today and strive to grow into a leading brand of electric vehicles in the Chinese market."

　　In recent years, Kia has performed well in the global market, but its sales in the Chinese market have declined year by year, presenting a trend of marginalization. As one of the earliest foreign car companies to enter China, Kia has achieved outstanding results with its cost-effective and joint venture advantages. Its sales peaked at 650000 vehicles in 2016, and then declined year after year. From 2018 to 2022, the sales volume of Kia in China was 324000, 370000, 289000, 249000, 152000, and 94000, respectively.

　　Faced with a decline in sales in the Chinese market, Kia China is not waiting to die. In 2021, based on the global brand renewal strategy, Kia China launched a brand renewal event simultaneously, releasing a new brand logo and slogan. In terms of products, Kia China introduced the fifth generation Sportage and abandoned "models below 100000 yuan" to actively break the tail in order to boost the brand. At the same time, Kia China has also upgraded its channels, services, and marketing.

　　However, in terms of sales volume, the Chinese market has not provided positive feedback. Not only that, but at the end of 2021, due to the continued downturn in performance, Dongfeng Motor Group, the former shareholder of Dongfeng Yueda Kia, announced its withdrawal, and the joint venture company has since become a joint venture with both Yueda and Kia.

　　In the outside world, the exit of Dongfeng Motor Group is more like an early stop loss. According to Kia's 2022 financial report, as of December 31, 2022, its joint venture in China, Jiangsu Yueda Kia Automobile Co., Ltd., had total liabilities of 2476.8 billion won (approximately 13 billion yuan), total assets of 2080.9 billion won (approximately 10.9 billion yuan), and an asset liability ratio of 119.0%.

　　Looking back at GAC Fick and Beijing Baowo, which have withdrawn from the market, their asset-liability ratios also reached 110.8% and 133.5% when they announced bankruptcy. From this point of view, the release of Kia China's new energy strategy is undoubtedly a battle in the back. However, facing the increasingly competitive domestic new energy vehicle market, whether Kia can achieve its goal of "450000 vehicles by 2030" remains to be tested by the market.