Kia’s EV5 electric SUV is making waves in the Chinese market, with sales soaring by almost 50% last year. This surge in sales helped Kia break the 200,000 vehicle mark for the first time in four years, positioning the company as a top performer among joint venture brands in China.
China has established itself as a dominant player in the global auto industry, especially in the electric vehicle sector. With over 1 million new energy vehicles (NEVs) sold in December alone, China has consistently surpassed the 1 million mark for five consecutive months. In 2024, China sold nearly 11 million NEVs, marking a 42% increase from the previous year and accounting for almost half of the total retail passenger vehicles sold in the country.
Kia’s success in China can be attributed to the launch of its compact electric SUV, the EV5, in late 2023. Priced at around $20,000, the EV5 has been a game-changer for Kia, propelling the company to its best sales performance since 2020. The introduction of the EV5 has allowed Kia to compete effectively with domestic EV makers like BYD, who offer ultra-low-cost EVs such as the Seagull, starting at under $10,000 in China.
According to reports from Korea’s Newsis, Kia’s joint venture in China, Weda Kia, reported a significant sales increase of 49.2% in 2024, with total sales reaching 248,259 units. This marked Kia’s first time surpassing the 200,000 vehicle mark in China since 2020, positioning the company as a leader among joint venture brands.
In addition to its success in the Chinese market, Kia is gearing up for further growth through increased exports in 2025. The company has been accelerating its export activities from China, targeting 80 countries with an annual export volume of 180,000 units. Kia’s export destinations include countries like Australia, New Zealand, Brazil, Saudi Arabia, and Southeast Asia.
With the introduction of the EV5 and the expansion of its lineup with the sporty GT Line trim, Kia is poised for continued success in the Chinese market and beyond. The company’s strategic focus on electric vehicles and expansion into new markets reaffirms its commitment to sustainable mobility and innovative technology.
Overall, Kia’s performance in China reflects its resilience and adaptability in a rapidly evolving automotive landscape. As the demand for electric vehicles continues to grow globally, Kia’s strategic initiatives and product offerings position the company for long-term success in the competitive EV market.
