Korean car maker Kia Motors Corp., part of the Hyundai Group, has revealed details of its plans to achieve leadership in future automotive technologies, including electrification, mobility services, as well as connectivity and autonomy.

The Plan S strategy outlines Kia plan to embrace a future of electric vehicles and customised mobility solutions. The company is confident that its ongoing brand innovation and profitability growth will support a two-track Plan S strategy targeting the shift toward electric and autonomous vehicles as well as mobility services.

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% share of the global EV market (excluding China), while also attaining a 25% 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. In the Purpose Built Vehicle (PBV) market, anticipated to grow on the back of expanding car-sharing and e-commerce businesses, the company plans to secure leading-edge competitiveness.

Plan S will see Kia Motors invest a total of 29 trillion won (US $25 billion) by the end of 2025 to establish leadership in vehicle electrification and diversify its business. By the end of this period, Kia Motors is targeting a 6% operating profit margin and 10.6% return on equity (ROE) ratio to secure the necessary capital and maximise shareholder value.

“As the auto industry undergoes turbulent changes, today is also an opportune time for Kia Motors to radically transform itself into a global enterprise dedicated to spearheading customer value-led innovations,” said Kia Motors President and CEO Han-woo Park. “Kia Motors will actively innovate to take on the challenges ahead, identifying and capitalising on new opportunities to propel the company forward.”

CEO Park added: “Plan S is a bold and enterprising road-map for Kia’s future business transition, buttressed by the two pillars of electric vehicles and mobility solutions. Our approach is to put customers first, and Kia will reinvigorate its brand innovation by developing products and services that offer new experiences for customers.”

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.

Across its EV line-up, Kia plans to operate two different types of EVs with different charging capabilities (400V/800V) — high-performance dedicated models and derivative models with reasonable pricing — to meet the diverse needs of customers.

Growth in global EV sales will be pursued in accordance with a customised, market-oriented strategy, which considers regional differences in environmental regulation, subsidies, infrastructure and more.

In Korea, North American, Europe, and other developed markets which face stricter fuel-efficiency standards, the company will foster the development of the EV industry. A full EV line-up will be established in these markets by 2025, and the sales of EVs will account for about 20% of Kia’s total sales in developed markets.

In emerging markets, Kia will focus on expanding sales of internal combustion engine vehicles, while reviewing the selective entry of EVs depending on demand in each market.