Automaker expects gas-levels of EV profits by 2025
Wants 11 new EVs by 2026
Kia has just unveiled its new roadmap for the automaker’s move from gas to electric over the rest of this decade. That means a complete lineup of electrics including its first purpose-built EV set to arrive next year as part of Plan S.
“Kia is being reborn in 2021 with a new logo, new design, and new corporate name,” said company president Ho Sung Song. “Kia will transform into a brand that excites and inspires customers with innovative mobility experiences.”
Song said that Plan S would have three pillars as part of the automaker’s transformation. Advancing EV transition, adding more purpose-built vehicles (PBV), and expanding future mobility services.
To that first goal, the brand is working to see 40 percent of its sales electrified, be it EV, PHEV, or plain hybrid, bu 2030. That’s 1.6 million units. It hopes for half of those to be pure EVs in the same timeframe or 880,000 units globally.
11 new EV models are planned by 2026, which Kia calls a complete model lineup. Of those, seven will be dedicated electrics (rather than based on gas models like the Kia Soul EV) based on the Hyundai Group’s E-GMP architecture and the other four will be based on existing ICE vehicles. Kia says it expects the first dedicated EV will be profitable and that EVs will hit conventional vehicle profit levels by 2025.
Kia says that its E-GMP vehicles will have expanded feature on demand and over the air services. The first is set to be unveiled next year, codenamed CV, and will have Level 2 advanced driver assistance. In 2023, Kia’s EVs will get a new Highway Driving Pilot system which the brand calls “a crucial autonomous driving Level 3 development.”
The PBV business is vehicles designed just for one function, rather than general automotive use. Think parcel delivery or even inter-factory transport. Kia hopes to sell 1 million of these a year by 2030, built on a new dedicated skateboard platform.
Lastly, Kia will expand mobility services including its Kia Flex subscription package, which will be launched globally this year with a new name and operated by rental car and leasing firm Sixt. It will also expand car-sharing services to additional European markets.