Seoul based Kia Motors is a leading automobile company, has plans to invest $25 billion to offer 11 electric vehicles (EV) by 2025. The company also revealed its long term strategy called ‘Plan S’ to spearhead the global transition to electric vehicles and mobility solutions by 2025. The company targets around 6.6% of the global EV market share by 2025.
The Kia Motors will launch an electric vehicle in 2021 on an entirely new platform. The new EV will offers a future-oriented user experience, a single-charge driving range of over 500 kilometres, and sub-20 minute charging time. The company plans 25% of total sales to attribute to eco-friendly models by the end of 2025. The company is also focusing on enhancing sales of internal combustion engine vehicles in emerging markets.
The major expansions and deals by Kia Motors in the last year are mentioned below:
- January 2020: Kia Motors and Hyundai Motor Company announced a strategic investment of $110 million in Arrival, a leading UK-based electric vehicle startup to co-develop commercial electric vehicles. Hyundai and Kia will introduce competitively priced small and medium-sized electric vans and other products for logistics, and shuttle service companies. Hyundai and Kias partnership with Arrival will help meet the growing demand in Europe for eco-friendly commercial vehicles, and accelerate the brands transformation from carmakers to clean-mobility providers.
- December 2019: Kia Motors Corporation has opened its Indian production facility in Anantapur district, Andhra Pradesh. The company invested approximately $1.1 billion in India to manufacture vehicles in the country. The first model manufactured by Kia is the new Seltos compact SUV for Indian markets. The Kia Motors India plant is the new production home for Kias first made in India products.
- October 2019: Kia Motors India has opened a new BEAT360 brand experience center in Delhi, the capital city of India. The companys new center is a first for the Indian market. The new experience center offers a unique opportunity to interact with the Kia brand and its latest models.
- September 2019: Kia Motors, along with Hyundai Motor Company will invest in IONITY, a joint venture established by global automakers. As per the agreement, from 2021 Kia and Hyundai EVs will be equipped with 800 volt charging systems to accommodate IONITYs maximum charging power of 350 kilowatts. Customers will be able to use IONITYs HPC facilities, which are equipped with digital payment options, to reduce charging times and better facilitate long-distance travel significantly.
- June 2019: Kia Motors Corporation with Hyundai Motor Group announced investments in Aurora Innovation to accelerate the development of autonomous vehicle technologies. The investment will help companies to expand research to a wide range of models and to build an optimal platform for Hyundai and Kias autonomous vehicles.
- March 2019: Kia & Hyundai Motor announced a strategic partnership with Indias largest mobility service provider Ola, to invest $300 million to become a Smart Mobility Solutions Provider. As per the agreement, the three companies extensively collaborate on developing unique fleet and mobility solutions and building India-specific electric vehicles and infrastructure.
About Kia Motors
Kia Motors is a South Korea’s second-largest automobile manufacturer, headquartered in Seoul. The company was founded in 1944. The company has more than 40,000 employees across the world.
The company has around 14 manufacturing and assembly operations in eight countries of the world. Kia has a network of approximately 3,000 distributors and dealers in around 172 countries. Kia motors have grown as part of global Hyundai-Kia Automotive Group to become the fifth largest vehicle manufacturer in the world.