Kia Motors pledges responsible growth
Hyundai Motor Group Chairman Chung Mong-koo promised Kia Motors’ shareholders Friday that he will strengthen Kia’s competitiveness through responsible management.
He made the comment during Kia’s general shareholder meeting.
Hyundai Motor is the parent company of Kia Motors, the nation’s second-largest carmaker.
“The global automotive industry is entering an era of uncertainty due to a decline in demand, along with prevailing protectionist trends across the world,” Chung said during the 73rd annual shareholders’ meeting at Kia Motors headquarters in Gangnam-gu, southern Seoul, Friday.
“Kia Motors will go ahead with its plan to enhance the company’s competitiveness through responsible management this year.”
Under the plan, Kia Motors is expected to boost vehicle quality and customer service.
“The company will maintain its top-quality competitiveness in vehicle products while introducing renovation in our service sector to further win customer trust,” Chung said.
The carmaker will also continue introducing more luxury and environment-friendly models this year.
“We will strengthen product quality of the company’s luxury and eco-friendly vehicle division to satisfy the market’s demands,” he said. “Kia Motors will expand investment in its R&D sector to boost the future technologies of self-driving and connected cars.”
Kia Motors hinted during the Geneva International Motor Show that it will release new models to overcome the decline in global demand.
The company unveiled a plug-in hybrid electric vehicle (PHEV) version of the Niro small sports utility vehicle (SUV) at the show. The Niro PHEV is expected to debut in the United States and Europe later this year.
Kia Motors also introduced the K5 Sportswagon PHEV at the show. The Sportswagon won the International Forum (iF) Design Award for product design for cars.
The company said this year’s global sales target is 3.17 million cars — 2,655,000 abroad and 515,000 domestically. The figure is up by 50,000 cars compared with last year’s target.
“Kia Motors will introduce the luxury Stinger sports sedan soon to upgrade the carmaker’s brand image,” Kia Motors Vice President Lee Hyung-keun said. “It will also disclose a series of follow-up models of the popular Morning and Pride as well as developing localized vehicle models to enhance Kia Motors’ competitiveness in the global market.”
Kia Motors unveiled the Stinger sports sedan during the 2017 North American International Auto Show (NAIAS) at the Russell Industrial Center in Detroit, Michigan, in January. A Kia Motors official said the sports sedan model is expected to be sold in the U.S. later this year.
Peter Schreyer, head of Kia Motors’ design operations, has been in charge of the model’s design that features an extended wheelbase and lowered skirt to suggest a dynamic and luxurious look. He also designed the famous Audi TT coupe and roadster model.
The Stinger comes with two engine options — a 3.3-liter V6 that generates 390 horsepower and propels the car from 0 to 100 kilometers per hour in 5.1 seconds, and a 2.0-liter four-cylinder GDi engine that produces a maximum 255 horsepower with 36.0 kgf.m torque.