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 automotive industry, encompassing electrification and mobility services, as well as connectivity and autonomy.
The Plan S strategy outlines Kia’s pre-emptive and enterprising ‘shift’ from a business system focused on internal combustion engine vehicles toward one centered on electric vehicles and customised 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 per cent share of the global EV market (excluding China), while also attaining a 25 per cent 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).
Alongside these objectives, Kia will offer EV-based mobility services as part of its new business model, helping solve global urban problems such as environmental pollution. In the Purpose Built Vehicle (PBV) market, anticipated to grow on the back of expanding car-sharing and e-commerce businesses, the company will secure leading-edge competitiveness.
The company will pursue innovations across the board, encompassing brand identity, corporate identity, design identity and user experience, among other fields. Kia aims to enable customers to directly feel, experience, and understand the company’s evolution as an enterprise championing EVs and mobility solutions.
Kia’s new brand system, which is slated to be revealed in the second half of this year, is currently being formulated under clear objectives. This includes becoming a pioneer in the age of EVs, a brand beloved by the millennial generation (those with a good grasp of information technology born between the early 1980s and early 2000s, a period witnessing the transition from the analog to the digital era) and Z generation (those born after the mid-1990s and grown up largely in a digital environment with a natural inclination for using digital tools, hence their nickname, ‘digital natives’), and a symbol of challenge and innovation.
At the same time, the company plans to maximise shareholder value and win more trust from the market by steadily strengthening its competitiveness through innovation of existing businesses, as well as by increasing profitability of future businesses.