Kia and Yueda plan to form a new joint venture to launch six electric vehicles in five years

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

Kia and Yueda plan to form a new joint venture to open a new era of joint ventures. The new joint venture plans to increase capital by USD 900 million and rapidly increase vehicle sales and capacity utilization through expanding investment, introducing new models, developing new energy vehicles, and setting up an export base. 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.

At the same time, Kia will also actively carry out innovative marketing activities to show Chinese consumers the vision of "New Kia" and sustainable future business. With the dealer location as the center, strengthen regional marketing, and effectively increase the consumer brand experience touchpoints; at the same time, continue to carry out "door-to-door test drive" and "door-to-door service" throughout the year, so that consumers can test drive new cars at home and meet the basic after-sales service, and enjoy a good brand experience. At the same time, the new SI (Terminal Image System) will be applied to all 4S stores and city showrooms, allowing consumers to feel the new Kia brand image.

In addition, the joint venture will build a new organizational structure, establish an innovative organizational culture, actively introduce local talents and professionals, and accelerate the localization work. A relevant person from Kia said, "Kia will accelerate the landing of the 'Global Kia' image in the Chinese market, and form a more efficient decision-making process through organizational structure adjustment, solidly promote the development of various businesses, and start again in the Chinese market." In the future, Kia will continue to deepen its efforts in the Chinese market and explore the most suitable management system for the Chinese market. ”

In addition, the new joint venture will also achieve win-win cooperation with Chinese dealer partners by formulating reasonable operating indicators, continuously optimizing business policies, and rewarding excellent dealers.

[Reporter] Gong Qianshu

【Author】 Gong Qianshu

【Source】 Southern Press Media Group South + client