After announcing its vision for sustainable transportation by 2030, Kia has increased the stakes. Hyundai owns Kia. The leadership of Kia stated the company’s goal to reach KRW 160 trillion ($122 billion) in gross revenue by 2030 during the company’s 2023 CEO Investor Day on Wednesday.
The monetary objective is a component of a broader upgrade to Kia’s future-focused “Plan S” strategy, which was introduced in 2020 and included new branding. A KRW 32 trillion ($24 million) investment into the automaker’s electrification plan is also included in the report from Wednesday, with 45% of the sum going to “future business sectors.”
For the following few years, the money ought to assist Kia in increasing its output. By 2030, Kia will increase its annual EV sales goal and worldwide sales objective, increasing from 1.2 million to 4.3 million and 4 million units, respectively. From where Kia is now, that ramp will be quite the climb. By 2023 and 2026, the business hopes to sell 258,000 electric vehicles, or 8% and 25% of all Kia sales, totaling 1 million units. In addition, the business said it would start running its first specific EV manufacturing at Gwangmyeong by the following year.
In addition, Kia said that by 2027, it would introduce 15 new electric vehicle models, up from the 14 it had previously committed. A purpose-built, mid-sized SUV is anticipated to be one of those vehicles, and Kia plans to introduce it by 2025. However, Kia didn’t specify why it was being created.
The EV9 SUV was unveiled, the newest electric vehicle in the Korean automaker’s lineup. It is loaded with technology and will be available in a few regions in the second half of this year.
The business said that all of Kia’s next automobiles will be technology-focused. All new models, according to Kia, will be linked to the company’s “connected auto data cloud” by 2025, allowing for over-the-air upgrades and consumer customization of their vehicles.
The business also pledges to concentrate on AutoMode, an advanced driving assistance system (ADAS) making its debut on the EV9. With HDP (Highway Driving Pilot), a Level 3 autonomous driving system that will debut with the EV9 this year, Kia is taking ADAS one step further. According to the company, HDP “does not need human steering wheel control for specific road portions, such as highways.”
As part of its strategy for autonomy, Kia stated that it will deliver HDP2, which employs “high precision navigation,” in 2026. By the end of the current year, the firm wants to use OTA updates to provide drivers additional “eye-off” or hands-free functionality.
The firm has formally formed a purpose-built vehicle (PBV) business structure, with a specific portfolio of cars for diverse commercial applications, in addition to its first purpose-built SUV that Kia hopes to deploy by 2025. The corporation wants to create a system that can control data, software, and PBV billing.
According to Kia, one of its most important upcoming companies will be the PBV division. As a result, it is constructing a special facility in Hwaseong, which will start production of medium-sized cars in 2025. The PBVs will be built on a “flat skateboard-type platform, allowing the size and shape to be modified according to” the goals and requirements of a business partner.
The firm claimed that a robotaxi, a small vehicle for delivering products or food, and a huge vehicle that may “replace public transit or be utilized as a mobile office” will be added to Kia’s PBV portfolio over time.
