“That Motors has revealed its plans for its electric vehicle manufacturing strategy by sharing the brand’s future performance in this segment, according to Kia President and CEO Ho Sung Songs.
–
Content will continue after the ad
Advertising
–
Kia plans to stabilize its leading position in the global electric car market in response to rapidly growing consumer demand for the product. The brand will launch a diverse range of electric cars and partner with charging companies around the world to achieve this.
“Kia has sold more than 100,000 electric cars since we started series production of the Kia Ray EV in 2011,” a Kia CEO said in a press release. “Since then, we have introduced many new electric cars to the global market and announced plans to accelerate the process in the coming years. By refocusing our business on electrification, we aim to increase electric vehicle revenues by up to 25% of total global sales by 2029.”
In line with Kia’s “Plan S” strategy, announced in early 2020, the brand plans to expand its range of electric cars to 11 models by 2025. Over the same period, revenue from electric car sales in South Korea, North America and Europe should reach 20% of the total. By 2027, seven more electric car models would be released.
The first of these cars, codenamed “CV”, will be designed for a wide global market and will be launched in 2021.
In January this year, Kia unveiled its short- and long-term strategy, Plan S, outlining the brand’s development, which focuses on strengthening its global position in the electric vehicle segment, as well as manufacturing, sales and service innovations.
Kia plans to respond to market demands by offering a variety of products – a range of models suitable for cities, long journeys and fast driving.
Kia Motors is also looking for ways to improve its electric car sales practices. The brand is exploring the possibility of creating a subscription service to offer consumers a variety of purchasing options; battery leasing and rental programs; and the used battery business, for example.
Kia sees the development of charging station infrastructure as a prerequisite for the promotion of electric cars, so the company will continue to operate worldwide to improve the availability of charging.
–
