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Kia Motors announces 'Plan S' strategy to spearhead transition to EV, mobility solutions by 2025
SEOUL, South Korea, Jan. 14, 2020 /CNW/ -- Kia Motors Corporation has announced today details of 'Plan S', its mid- to long-term strategy aimed at progressively establishing a leadership position in the future automtive industry, encompassing electrification and mobility services, as well as connectivity and autonomy. The Plan S strategy outlines Kia's preemptive and enterprising 'shift' from a business system focused on internal combustion engine vehicles toward one centered on electric vehicles and customized mobility solutions. The company's ongoing brand innovation and profitability enhancement will support the two-track Plan S strategy targeting the shift toward electric and autonomous vehicles as well as mobility services. Alongside Kia's 2025 financial and investment strategy, details of Plan S were announced to shareholders, analysts and credit-rating agencies at the company's CEO Investor Day in Seoul today. By the end of 2025, Kia plans to offer a full line-up of 11 battery electric vehicles. With these models Kia is looking to achieve a 6.6% share of the global EV market (excluding China), while also attaining a 25% share of its sales from its eco-friendly cars. With the global EV market expected to gain strength by 2026, Kia is aiming for 500,000 annual EV sales and global sales of 1 million eco-friendly vehicles (excluding China). For more information about Plan S, please visit Kia's media website: kianewscenter.com View original content to download multimedia:http://www.prnewswire.com/news-releases/kia-motors-announces-plan-s-strategy-to-spearhead-transition-to-ev-mobility-solutions-by-2025-300986553.html SOURCE Kia Motors Corporation |