TOKYO — Kia is dumping “Motors” from its company identify as element of a world-wide brand name relaunch intended to situation the South Korea automaker as a mover in electric powered motor vehicles and new mobility.

In altering its identify to Kia Corp., from Kia Motors Corp., the enterprise is achieving for a new identification that much better reflects its press into new fields, CEO Ho Sung Tune reported in information release. The go follows the adoption of a new enterprise brand and slogan this month.

“Transforming our company identify and brand is not only a cosmetic improvement,” reported Tune, who took the helm last April. “It represents us growing our horizons and establishing new and rising businesses that meet up with and exceed the assorted desires of our buyers throughout the world.”

The new direction targets a mass ramp-up of EVs as a result of 2025 and a rapid growth into what the enterprise calls function-created motor vehicles, or PBVs. These are runabouts devoted to new mobility enterprises this sort of as trip-hailing, robotaxis and on-the-go e-commerce.

Underneath its Approach S midterm organization prepare, Kia needs to construct an EV lineup of 11 products by 2025, with 7 EV-only merchandise by 2027. Kia hopes to seize six.six percent of the world-wide battery-electric powered car or truck sector by 2025 and rack world-wide yearly product sales of 500,000 EVs by 2026.

Kia needs EVs to generate 20 percent of its throughout the world product sales by 2025 and a quarter in 2029.

The enterprise reported its to start with devoted EV will be sent in the to start with quarter of this yr, created on a new Electric-World-wide Modular Platform, or E-GMP, shared with Hyundai.

It will be a crossover-impressed style and design, with a array of much more than 310 miles and a high-pace charging time below 20 minutes, Kia reported. The design will be the to start with bearing Kia’s new brand.

The enterprise did not say below what testing protocol the EV’s array was calculated.