According to official information, Kia will announce the new company name and new brand strategy under the new share ratio structure on the eve of the opening of the Beijing Auto Show in April.

    It is reported that the new company may be named "Yueda Kia" or "Kia China".

    In this regard, the official relevant person in charge of Kia told Caijing.com: "The name of the new company is close to 'Kia China' but it has not yet been finalized, and it needs the approval of relevant national departments. Before the Beijing Auto Show in April, there will be a Kia in China in the future. The strategy is released, and relevant information will be announced at that time.”

    On December 18 last year, with the completion of the transfer of 25% of Dongfeng Group’s equity (price of 297 million yuan), Dongfeng Yueda Kia (DYK) will be changed from a three-party joint venture to Yueda and Kia. Kia and Yueda are negotiating a new share ratio.

    Before 2017, Dongfeng Kia Yueda developed very rapidly, but in 20217, Dongfeng Yueda Kia's sales began to plummet, and only 359,500 units were sold that year, far less than the peak of 650,000 units in 2016.

    During the period from 2018 to 2020, the total sales continued to decline, with 370,000, 289,800 and 249,300 units sold respectively. Entering 2021, the sales of Dongfeng Yueda Kia also did not improve, and the cumulative sales in the first three quarters were only 111,600. vehicle.

    The long-term sluggish market performance will inevitably drag down the overall financial situation of Dongfeng Yueda Kia. According to the listing information, Dongfeng Yueda Kia lost 4.75 billion yuan in 2020. In the first 10 months of this year, Dongfeng Yueda Kia lost 2.612 billion yuan.

    As of the end of last year, Dongfeng Motor announced the formal transfer of all equity and withdrawal from the tripartite joint venture. At this point, Kia's development in China will enter a new stage.

    Kia said that it will implement five major measures in 2022 to develop the Chinese market, including strengthening brand building and making the new Kia popular; integrating into the global system and increasing the investment of resources in the Chinese market; product quality, providing Chinese users with better choices ; Efficient management, set up an efficient organizational system; Rationalized operation, work together with dealers.