Kia removes ‘Motors’ from its corporate name

16-Jan-2021 Intellasia | KoreaTimes | 6:02 AM Print This Post

Kia has removed “Motors” from its corporate name as the firm attempts to break away from its traditional manufacturing-driven business model, the company announced, Friday.

The automotive firm held an online event showcasing its new corporate name, logo and slogan. Kia also announced the new slogan “Movement that inspires” saying this shows its commitment to inspire consumers through products and services, as well as their experiences with the brand.

“At Kia, we believe that transportation, mobility and movement represent a human right,” Kia CEO Song Ho-sung said during the event. “Our vision is to create sustainable mobility solutions for consumers, communities and societies globally. Today we start putting this vision into action with the launch of our new brand purpose and strategy for the future.”

Kia started using Kia Motors as its corporate name in March 1990, when the company decided to focus on its automotive business. Kia was established in 1944 as a machinery, bicycle and auto parts maker and used the name Kia Industrial from 1952 to 1990.

Kia said removing Motors from its corporate name showcases its efforts to break away from its traditional manufacturing-driven business model and become a mobility service provider.

Last year, the company announced its long-term strategy called Plan S, to pursue leadership in the future mobility industry, expanding its business to encompass electric vehicles (EVs), mobility services, purpose-built vehicles and other advanced businesses related to transportation.

As part of this plan, Kia pledged to introduce seven new EVs by 2027. These new models will include a range of passenger vehicles, SUVs and multi-purpose vehicles across several segments, based on Hyundai Motor Group’s E-GMP EV platform.

Kia said its first EV based on E-GMP will be revealed in the first quarter of this year, and it will be a crossover offering a range of over 500 kilometers on a electric charge and high-speed charging taking less than 20 minutes.

Starting from this vehicle, Kia said it is seeking a 6.6 percent share in the global EV market by 2025, and global annual sales of 500,000 vehicles by 2026.

Also, the company said it is developing a range of new purpose-built vehicles for corporate customers. These specialised vehicles will be based on flexible skateboard platforms, with modular bodies designed to meet the specific mobility requirements from a broad range of corporate and fleet customers.

Along with new vehicles, Kia said it is ramping up efforts to expand mobility services. Kia and Spain’s Repsol launched WiBLE in Madrid in 2018, operating 500 Kia Niro plug-in hybrid EVs through a free-floating method that allows users to freely rent and return vehicles within the service area. The service has more than 130,000 members. A separate service called KiaMobility was also launched in Italy and Russia last September, and will be introduced to several new markets in the near future.

The effort to morph into a mobility service provider is not confined to Kia. According to industry officials, Hyundai Motor Group recently organised a complete car division, which controls the car related businesses of Hyundai Motor and Kia. This means the group will consider manufacturing and selling vehicles as just one of its multiple missions, the officials said.


Category: Korea

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