Kia Motors to invest US$ 25 bil. in EVs, eco-friendly cars
Updated: 2020-01-15 07:29:04 KST
Kia Motors announced on Tuesday that they will invest 25 billion U.S. dollars over the next 6 years for developing electric vehicles and mobility solutions.
With such investment, Kia Motors plans to achieve a share of 6.6 percent of the global electric vehicles market in 2025, up from the current 2 percent.
This medium-term business strategy, what Kia calls it 'Plan S', aims not just to adapt but to lead the future automobile industry by becoming an innovative brand.
Kia Motors is also renewing its brand to attract younger customers.
The company is releasing its first all-electric model next year and it plans to have 11 EV models in 2025.
These electric vehicles will be able to perform as well as an SUV and will be capable of driving 500km once fully charged, with charging taking just 20 minutes.
Kia aims to sell 500-thousand EVs, and 1-million environmentally-friendly cars worldwide in 2026.
And in major cities around the world, Kia will establish a mobility hub to provide charging stations and repair shops for electric vehicle drivers.
It also looks to operate robot taxis and on-demand robot shuttles based around these mobility hubs.
Hong Yoo, Arirang News.