Kia is continuing to embrace electrification as the automaker has unveiled its new Plan S which includes an assortment of electric vehicles.
Described as the company’s “mid- to long-term strategy,” Plan S calls on Kia to shift its focus from internal combustion engines to electric vehicles.
As part of this effort, Kia will launch its first dedicated electric vehicle in 2021. The company didn’t go into specifics, but Kia’s European COO recently said the Imagine concept will go into production in 2021 and ride on a dedicated electric vehicle platform.
Of course, that’s just the tip of the electric iceberg as Kia plans to offer 11 EVs by the end of 2025. The company believes these models will enable them to grab 6.6% of the global EV market – excluding China. The automaker went on to say electric vehicles will grow in popularity and this should enable them sell 500,000 units annually by 2026.
While Kia’s first dedicated EV will arrive next year, the company isn’t planning to use that platform on all upcoming electric vehicles. Instead, the automaker will offer derivative and dedicated EVs simultaneously with “differentiated pricing and specification.” Kia didn’t elaborate, but it’s likely the derivative models will be more affordable and less advanced than their dedicated counterparts.
Besides talking about EVs, Kia announced plans to enter the “Purpose Built Vehicle” market. Little is known about this effort, but the company suggested they will build models to appeal to car-sharing and e-commerce businesses. These models could be electric and autonomous, but that’s not entirely clear at this point.
Under Plan S, Kia will invest $25 (£19.1 / €22.5) billion to “establish leadership in vehicle electrification and diversify its business” by the end of 2025. Kia also said they want “customers to directly feel, experience, and understand the company’s evolution as an enterprise championing EVs and mobility solutions.”
As part of this effort, a “new brand system” will be revealed in the second half of 2020. That’s a little vague, but the company aims to become a pioneer of EVs, a “brand beloved by the millennial generation,” and a “symbol of challenge and innovation.”