Photo: Kia
The electrified vehicle market is set to explode by the end of the decade, not necessarily because people are now more aware of what an impact such machines can have on the environment but because more and more carmakers are embracing them.
The number of electrified vehicles sold in our lifetime is expected to exceed that of ICE cars. And if there was a need for more confirmation of such an outcome, then Kia’s latest announcement is just that.
Taking advantage of the digital 2021 CEO Investor Day in Seoul, the Korean carmaker updated its Plan S strategy, initially announced one year ago.
According to the changes made, Kia plans to launch six new electric vehicles over the next five years and sell 880,000 EVs by 2030. That would mean 40 percent of its total sales and about half of the 1.6 million electrified cars it plans on selling.
Separately, Kia will launch its first purpose-built vehicle (PBV) in 2022. It, too, is an electric machine, destined to be used for last-mile deliveries, and presently in the works together with local partners in Singapore. Also, future mobility services, the Holy Grail of the industry everyone else seems to be chasing as well these days, will also get a more prominent role.
All these changes to Plan S should boost the company financially, starting as soon as this year. For 2021, Kia expects to sell close to 3 million vehicles, bringing its company-wide revenue to KRW 65.6 trillion ($59 billion).
"Kia is being reborn in 2021 with a new logo, new design, and new corporate name," said in a statement company president and CEO Ho Sung Song. "Kia will transform into a brand that excites and inspires customers with innovative mobility experiences.”
You can read the full details of the updated Kia Plan S in the press release section below.
Taking advantage of the digital 2021 CEO Investor Day in Seoul, the Korean carmaker updated its Plan S strategy, initially announced one year ago.
According to the changes made, Kia plans to launch six new electric vehicles over the next five years and sell 880,000 EVs by 2030. That would mean 40 percent of its total sales and about half of the 1.6 million electrified cars it plans on selling.
Separately, Kia will launch its first purpose-built vehicle (PBV) in 2022. It, too, is an electric machine, destined to be used for last-mile deliveries, and presently in the works together with local partners in Singapore. Also, future mobility services, the Holy Grail of the industry everyone else seems to be chasing as well these days, will also get a more prominent role.
All these changes to Plan S should boost the company financially, starting as soon as this year. For 2021, Kia expects to sell close to 3 million vehicles, bringing its company-wide revenue to KRW 65.6 trillion ($59 billion).
"Kia is being reborn in 2021 with a new logo, new design, and new corporate name," said in a statement company president and CEO Ho Sung Song. "Kia will transform into a brand that excites and inspires customers with innovative mobility experiences.”
You can read the full details of the updated Kia Plan S in the press release section below.
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