Kia Motors reveals electric vehicle (EV) business strategy

Kia Motors CEO

Kia Motors has shared its electric vehicle (EV) business strategy.

Kia President and CEO Ho Sung Song said Kia will establish a leadership position in the global EV market.

Kia will launch a range of dedicated BEVs and partner with EV charging companies worldwide to achieve this.

Kia has sold more than 100,000 BEVs worldwide since the introduction of its first mass-produced BEV in 2011, the Kia Ray EV.

“We are aiming for BEVs to account for 25 percent of our total worldwide sales by 2029,” Ho Sung Song said.

Under Kia’s ‘Plan S’ strategy, announced at the start of 2020, the brand plans to expand its BEV line-up to 11 models by 2025. Over the same period, Kia is aiming for BEVs to account for 20 percent of the brand’s total vehicle sales in advanced markets, including Korea, North America and Europe. Seven dedicated BEVs in the sketch revealed today will be launched by 2027.

The first of these BEVs, code-named CV, will be revealed in 2021 as the brand’s first dedicated BEV. The new model will offer the same competitive product quality and eye-catching design as Kia’s other vehicles, with high-performance driving and recharging characteristics.

Kia Motors is also seeking to innovate its sales practices for EVs. The brand is exploring the creation of subscription services to offer a diversified buying option for customers, as well as EV battery leasing and rental programs, and other ‘second-life’ battery-related businesses.

Kia Motors plans to expand its after service infrastructure for EVs. Kia aims to increase its number of dedicated EV work bays in Korea to 1,200 by 2030. In other markets worldwide, Kia will increase its number of EV work bays to 600 by the end of this year, and more than 2,000 by 2023.

Kia also plans to develop its own programs to train EV maintenance professionals. Kia is aiming to supply around 1,500 EV chargers in Korea by 2030.

Furthermore, Hyundai Motor Group will install 120 Ultra-Fast Chargers by 2021 in urban centers and along twelve highways linking eight provinces across the country.

Worldwide, Kia is establishing more than 2,400 EV chargers in Europe and around 500 in North America, partnering with its dealer networks. Kia plans to continue to increase its charging infrastructure in line with the growing market for EVs.