Three Korean companies made it onto this year's list of 100 Most Influential Companies released by TIME magazine last week. Samsung and SK Group were listed under the Titans category as a smartphone trendsetter and a battery maker, while Kia was included in the Innovators category for its "unexpected race to the top of U.S. EV sales."
TIME has released the list every year since 2021, split into five categories: Leaders, Disruptors, Innovators, Titans and Pioneers.
For Kia, the feat reflects its changing image. Kia America President and CEO Yoon Seung-kyu said in an interview with TIME that these days "people are surprised when they get into one of the company's vehicles because it's not the Kia they remember." Last year, 60 percent of its customers were new to the brand.
TIME stated that "Tesla still holds pole position in U.S. electric vehicle sales," but "in 2022, Kia America shed its reputation for inexpensive cars and hit a new annual sales record with its launch of the EV6 crossover, moving it into second place in U.S. EV sales for most of the year."
Kia has been harmed by last year's Inflation Reduction Act, which requires EVs to be assembled in North America in order to qualify for U.S. tax credits. But Yoon said the company is gradually overcoming the challenge "thanks to tax credits offered for leasing."
To stay in the race for U.S. electric vehicle dominance, Kia plans to begin production of its newest EV -- the EV9 -- in West Point, Georgia, next year. It will have 15 EV models in place for its global lineup by 2027.
