APD | South Korea: Kia Motors plans to launch first EV exclusive model in 2021

By APD writer Alice

Kia Motors, the second largest car makers of South Korea, plans to launch the first electric vehicle (EV) exclusive model in 2021 and 11 electric vehicles in all levels by 2025.

The plan was revealed by Kia Automotive President Park Han-woo in a recent meeting with invesors in Seoul.

Accordingly, this plan aims to win a 6.6% market share of electric vehicles in the global market, as compared to the current 2 percent. The sales proportion of models should also reach 25%.

To realise the plan, the company will invest 29 trillion won ($25 billion) over the next six years.

Kia also stated that by 2026, the company will sell 1 million environmentally friendly vehicles (including 500,000 electric vehicles) in markets outside China. In addition, in order to solve urban problems, it will also provide electric vehicles and autonomous driving-based mobile services.

(ASIA PACIFIC DAILY)