Kia intends to sell 500,000 EVs annually by 2026

Kia Motors just announced its mid- to long-term strategy “Plan S” to “spearhead transition to EV, mobility solutions by 2025”, which will be supported by a 29 trillion won ($25 billion) investment. Kia intends to sell some 500,000 all-electric cars annually by 2026.

Here we focus on the electrification strategy, which is quite substantial and includes:

• 11 EV models by 2025 (we assume plug-ins BEVs and PHEVs)
• global annual sales target of 500,000 BEVs by 2026 (and 1 million eco-friendly vehicles, which include also HEVs/PHEVs) – numbers excluding China
• 6.6% of global EV market share for Kia brand by 2025
• 25% of Kia sales to be eco-friendly vehicles (HEVs/PHEVs/EVs/FCVs) by end of 2025
• in some markets, like South Korea, North America and Europe, EV sales to stand for 20% of Kia sales by 2025
• the first dedicated all-electric model on a new platform to be introduced in 2021
• it will be a crossover type of car with more than 500 km (310 miles of range) in an undisclosed test cycle and DC fast charging time of less than 20-minutes (probably by 80% SOC)
• 800 V battery systems to be offered in new models

“The dedicated EV model to be launched 2021 will be built on a unique platform specifically engineered to accommodate the car’s world-leading EV powertrain and technologies. Among other features, it will offer a crossover design which blurs the boundaries between passenger and sport utility vehicles, a future-oriented user experience, a single-charge driving range of over 500 kilometers, and sub-20-minute high-speed charging time.

Across its EV line-up, Kia will offer diverse options by simultaneously offering EV derivatives of existing models and dedicated EV models, with differentiated, customer-focused product features, such as dual charging capabilities (400V/800V).”

Kia Motors President and CEO Han-woo Park said “As the auto industry undergoes turbulent changes, today is also an opportune time for Kia Motors to radically transform itself into a global enterprise dedicated to spearheading customer value-led innovations. Kia Motors will actively innovate to take on the challenges ahead, identifying and capitalizing on new opportunities to propel the company forward.”

CEO Park added: “Plan S is a bold and enterprising road map for Kia’s future business transition, buttressed by the two pillars of electric vehicles and mobility solutions. Our approach is to put customers first, and Kia will reinvigorate its brand innovation by developing products and services that offer new experiences for customers.”

ARTICLE: Inside EVs | Kia Announces Electrification Strategy ‘Plan S’ For 2020-2025