At its 2021 CEO Investor Day, held digitally today in Seoul, Kia announced an update to its ‘Plan S’ strategy for future business. The transformation will include a new logo, new design and new corporate name as well as a raft of new electric vehicles (EVs).
‘Kia transformation’ takes the company toward a broader business portfolio to redefine the entire mobility ecosystem, starting with the transition from internal combustion engine (ICE) to electrification. By 2030, eco-friendly vehicles such as EVs, HEVs (Hybrid Electric Vehicles) and PHEVs (Plug-in Hybrid Electric Vehicles) will make up 40 per cent of all sales for Kia, with an annual sales target of 1.6 million units. As part of this, Kia aims to grow EV sales to 880,000 units in 2030.
Starting with the launch of its first dedicated EV later this year, Kia will strengthen its EV lineup by 2026 with 11 new models – seven dedicated EVs built on the Electric-Global Modular Platform (E-GMP) architecture, and four based on existing ICE derivatives.
EVs built on E-GMP aim to set new benchmarks in All-Electric Range (AER), driving performance, interior space, and tech application. The EVs will function as smart devices with expanded application of Audio Video Navigation Telematics (AVNT), Over-the-Air (OTA) and Feature on Demand (FoD) services.
The first dedicated EV from Kia, codenamed CV, will incorporate HDA2 (Highway Driving Assist Level 2) technology. Starting in 2023, Kia EVs will be equipped with Highway Driving Pilot (HDP), a crucial autonomous driving Level 3 development.
Kia will also unveil its first purpose-built vehicle (PBV) in 2022, with further PBVs to be launched according to market needs. The company is targeting annual sales of one million units by 2030 to become a world leader in PBVs. To this end, Kia will develop a variety of specialised vehicles based on its PBV-dedicated skateboard platforms.
In the business-to-consumer domain, Kia will expand its existing mobility services. In Spain, the company’s flagship car-sharing service Wible will be expanded with Wible Más and Wible Empresas (tentatively named). The car usership service ‘KiaMobility’, which was launched in September last year as a pilot project in Italy and Russia, will also launch in additional European markets.
In the business-to-government and business-to-business sectors, Kia will launch an EV-based service that combines subscription and car-sharing. Under this new mobility service concept, vehicles will be used for business on weekdays and rented by individuals on the weekends.
Kia’s subscription program ‘Kia Flex’, which was introduced in Korea in 2019, will launch a global version later this year under the name ‘Kia Subscription.’ The service will be operated by Sixt Leasing, which was acquired by Hyundai Motor Group last year, and the vehicles will be provided by the company’s regional affiliates and dealers.