Kia Motors announces 'Plan S' strategy to spearhead transition to EV, mobility solutions by 2025

Kia to offer 11 EVs by 2025,targeting a 6.6% global EV market share

Kia to launch a dedicated EV model in 2021

Kia to reach 25% share of its sales from eco-friendly vehicles by end of 2025

Global annual sales target of 500,000 EVs,1 million eco-friendly vehicles by 2026

Mobility products and services to prioritize customer value

Kia to enhance profitability by improving existing businesses and leadership in future businesses

Kia to enter PBV market for corporate customers,offer customized PBVs

Kia to invest 29 trillion won (US $25bn) by 2025

Company targets 6% operating margin and 10.6% ROE in 2025

CEO Han-woo Park: "Kia Motors will transform itself into a ceaselessly innovative brand by accelerating its bold and preemptive transition to future businesses"

SEOUL,South Korea,Jan. 14,2020 -- Kia Motors Corporation has announced today details of 'Plan S',its mid- to long-term strategy aimed at progressively establishing a leadership position in the future automotive industry,encompassing electrification and mobility services,as well as connectivity and autonomy.

Han-woo Park,Kia Motors President and CEO

The Plan S strategy outlines Kia's preemptive and enterprising 'shift' from a business system focused on internal combustion engine vehicles toward one centered on electric vehicles and customized mobility solutions. The company's ongoing brand innovation and profitability enhancement will support the two-track Plan S strategy targeting the shift toward electric and autonomous vehicles as well as mobility services.

Alongside Kia's 2025 financial and investment strategy,details of Plan S were announced to shareholders,analysts and credit-rating agencies at the company's CEO Investor Day in Seoul today.

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).

For more information about Plan S,please visit Kia's media website: kianewscenter.com

Photo - https://photos.prnasia.com/prnh/20200114/2691835-1?lang=0