Even without Apple… Kia to invest 29 yen in electric vehicles and mobility

Kia officially declared the transition to’electric vehicles and mobility (mobile) solutions (solutions)’. It will invest 29 trillion won over the next five years.

Right away next year, it will launch the first purpose-based mobility (PBV). It also revealed its ambition to sell more than 1 million units per year in 2030.

On the 9th, Kia held the’CEO Investor Day’ online and announced its future business plan. It reviewed the mid-to-long-term strategy’Plan S’, which was released earlier last year, and specified goals such as electric vehicles and mobility solutions.

Kia President Song Ho-sung said, “We are proclaiming this year with the introduction of a new mission and logo as the first year of Kia’s transformation,” and emphasized, “We will establish ourselves as a brand that provides experiences beyond making and selling cars.”

On this day, Kia announced a plan to build another ecosystem beyond structural changes such as electrification (using electric driving power).

However, contrary to industry speculation, there was no mention of cooperation with Apple or consignment production of electric vehicles. Through a public announcement on the 20th, he said, “We are reviewing cooperation with a number of overseas companies related to the autonomous electric vehicle business,” and “but we are not discussing the development of autonomous driving with Apple.”

First, the transition to the electric vehicle system was concreted. The company aims to build a full lineup of 11 types by 2026. It plans to sell more than 880,000 units a year by 2030.

Next month, the first dedicated electric vehicle (Project CV) will be released. The domestic sales time is coming July. CV runs over 500km with one charge. When charging, it secures a driving distance of 100km in 4 minutes.

In addition, level 2 level of autonomous driving technology and highway driving assistance (HDA) 2 will be applied. A company official said, “The target for level 3 level deployment is by 2023,” and “We want to implement electric vehicles as smart devices.”

In order to eliminate the hassle of charging, it will also prepare 120 fast charging facilities this year.

In particular, it announced that it will release’PBV 01′, the first PBV next year. From 2023, when demand is expected to rise in earnest, the business will expand with open innovation and independent platforms. The goal is to sell more than 1 million units per year in 2030.

In the case of transportation business, unlike growth opportunities, we focus on areas where there are no companies or where the ecosystem is not sufficiently established. Business-to-consumer transactions (B2C) meet environmental regulations and expand services where growth is expected.

The’Kia Mobility’ service, currently operating in Italy and Russia, is expanding to Europe.

Kia announced that it will achieve an operating profit of 3.5 trillion won and sales of 65 trillion won as financial targets this year. This is an increase of 70.1% and 10.8%, respectively, from last year. The global sales target was set at 2922,000 units.

From a mid- to long-term perspective, we set up tasks such as balanced growth in advanced and emerging markets, expanding the proportion of leisure vehicles (RV), improving electrification profitability, and improving sales mix. It is explained that the proportion of RV will rise to 65.0% by 2025.

Kia said, “By 2025, it is expected to achieve the level of internal combustion engines thanks to improved profitability of electrification.” Instead of reducing investment in existing businesses by KRW 1 trillion, future technologies such as autonomous driving, hydrogen and urban air transportation (UAM) It will be put into the reinforcement.”