KIA, a subsidiary of the South Korean auto giant Hyundai, has also embarked on electrification of its lineup. By the end of this decade, KIA plans to launch more than a dozen electric cars of different classes on the market.
KIA has announced a massive plan to switch to electric cars. By 2027, the Korean brand will have at least 14 electric models in its range. Among them will be two pickup trucks with electric motors instead of internal combustion engines. One of them is billed as a “special model” that will be built on a platform designed specifically for electric vehicles, while the other model will be aimed at emerging markets and will most likely use a platform used in ICE vehicles.
Taking a course on electrification, KIA has set itself the goal of delivering at least 1.2 million electric vehicles a year by 2030. This is 36% more than originally planned. Moreover, about 80% of sales of electric vehicles, according to KIA forecasts, will fall on the countries of North America, Europe, South Korea, as well as China. In these regions, by the end of the decade, 45% of total KIA vehicle sales will be electric models.
As the popularity of electric vehicles grows, so will the demand for batteries, in connection with which KIA is actively investing in the expansion of their production and the development of new technologies. Over the next 8 years, the company aims to reduce the cost of manufacturing automotive batteries by about 40% while increasing their density by an impressive 50%.
Source: Trash Box
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
