Under the bold Plan S strategy, Kia aims to introduce as many as eleven battery powered vehicles by the end of 2025
Kia Motors has revealed its ambitious ‘Plan S’ strategy focussing on progressive development in the future with electrification, connectivity, self-driving and mobility services at the core of action. The two-track Plan S strategy detailed in Seoul plays a key role in the shift from conventional IC-engined vehicles to zero-emission mobility solutions.
The South Korean auto major aims at offering eleven battery powered vehicles by the end of 2025 and they are projected to achieve 6.6 per cent global market share in the EV space excluding China. This couples with the target of 25 per cent sales share from eco-friendly vehicles. Kia expects the global EV market to come out strong by 2026 and thus plans five lakh annual EV sales.
Barring China, Kia expects the global eco-friendly vehicle sales of one million. Kia will also provide EV-based mobility services and anticipates growth in car sharing and e-commerce business. Kia will invest a total of 25 billion USD by the end of 2025 to establish ‘leadership in vehicle electrification’ and it targets 6 per cent operating profit margin and 10.6 per cent return on equity ratio by the end of this period.
A new brand system is scheduled to be unveiled in the second half of 2020. Currently being devised with clear objectives, it involves pioneering in the EV era and beloved by the millennials and Z generation. Kia will be launching a dedicated battery electric vehicle next year and simultaneously offer derivative electric models alongside dedicates EVs.
Kia entered the Indian market only five months ago and the good reception for Seltos has eventually boosted its confidence in the country further. It will be introducing selective EV models in the emerging markets and India should eventually be part of the process. The production facility in Anantapur, Andhra Pradesh will likely act as a global hub in the coming years due to its vast capacity.
At the 2020 Auto Expo, Kia will unveil a compact SUV Concept that will spawn a production model to rival Maruti Suzuki Vitara Brezza, Hyundai Venue and Tata Nexon while the Carnival premium MPV will have its prices revealed during the biennial event.