Kia Motors Corporation will introduce a full line-up of 11 battery electric vehicles by 2025 targeting a 6.6pc slice of the global EV market share, writes Trish Whelan.
The Korean brand has announced details of its ‘Plan S’, its mid- to long-term strategy aimed at progressively establishing a leadership position in the future automotive industry, encompassing electrification and mobility services as well as connectivity and autonomy. The Plan S details were announced to shareholders, analysts and credit-rating agencies at the company’s CEO Investor day in Seoul today.
The Plan S strategy outlines Kia’s preemptive ‘shift’ from focusing on internal combustion engine cars towards one centred on electric vehicles and customised mobility solutions. Kia will concentrate on leading the popularisation of electric vehicles, and expand mobility services for electric and autonomous vehicles, as well as entering the Purpose Built Vehicle (PBV) market and will launch a dedicated electric vehicle model in 2021.
The brand aims for 500,000 annual EV sales and global sales of one million vehicles (excluding China).
The company will invest a total of 29 trillion won (US $25 billion) by the end of 2025 to establish leadership in vehicle electrification and diversify its business.
