Dongfeng withdrew, and Kia Motors opened a new era of joint ventures in China

On February 7, Kia Co., Ltd. signed an investment expansion agreement with yancheng people's government and Jiangsu Yueda Group.

According to the official introduction, the new joint venture company plans to increase its capital by 900 million US dollars and rapidly increase vehicle sales and capacity utilization rates by expanding investment, introducing new models, developing new energy vehicles, and setting up export bases. According to the plan, the new company name will be released in April this year.

It is reported that Kia will focus on promoting the introduction of global strategic models and new energy vehicles. The new models launched this year will be equipped with a large number of safety configurations and new technology configurations to further enhance product performance and market competitiveness, and together with models on sale such as Jawa and SmartCar Ace, kia's global strategic model lineup will be improved. From next year to 2027, starting from the new pure electric vehicle EV6, Kia will launch a new electric model in the Chinese market every year, gradually building a new EV matrix of six electric vehicles.