A 12 months after Kia unveiled its roadmap to sustainable mobility by 2030, the Hyundai-owned model has upped the ante. On the firm’s 2023 CEO Investor Day Wednesday, Kia’s management mentioned the corporate goals to succeed in KRW 160 trillion ($122 billion) in gross income by 2030.

The monetary objective is a part of a normal replace of Kia’s future-focused technique, “Plan S,” which launched in 2020 and featured new branding. Wednesday’s replace additionally features a KRW 32 trillion ($24 million) funding into the automaker’s electrification technique, with 45% of that cash devoted to “future enterprise areas.”

The funds ought to assist Kia nudge up its output up over the following few years. Kia up to date its international gross sales objective of 4 million models by 2030 to 4.3 million models, and its annual EV gross sales objective of 1.2 million models to 1.6 million models by 2030. That’ll be fairly the ramp from the place Kia is as we speak. The corporate is focusing on 258,000 EV gross sales by 2023 and 1 million models by 2026, which might be 8% and 25% of all Kia gross sales, respectively. By subsequent 12 months, the corporate mentioned it should start working its first devoted EV manufacturing facility at Gwangmyeong.

Kia additionally mentioned it should launch 15 new EV fashions by 2027, which is yet one more mannequin than the corporate had promised final 12 months. A kind of fashions is anticipated to be a purpose-built mid-sized SUV, which Kia is aiming to launch by 2025. For what objective it’s being constructed, Kia didn’t say.

The Korean automaker not too long ago revealed the latest EV in its portfolio, the EV9 SUV, which is filled with tech and can go on sale in chosen markets within the second half of the 12 months.

All of Kia’s upcoming automobiles might be tech-focused, the corporate mentioned. By 2025, Kia mentioned all new fashions might be related to the corporate’s “related automobile information cloud,” which ought to allow over-the-air updates and permit prospects to personalize their automobiles.

The corporate can also be promising to deal with its model of superior driver help system (ADAS), AutoMode, which is debuting on the EV9. Kia is pushing its ADAS one step additional with HDP (Freeway Driving Pilot), which it describes as a Degree 3 autonomous driving expertise “that doesn’t require human steering wheel management for sure street sections, akin to highways,” and also will debut with the EV9 this 12 months.

As a part of its autonomy roadmap, Kia mentioned by subsequent 12 months, the corporate plans to make use of OTA updates to convey drivers extra “eye-off” or hands-free features, and in 2026, it’ll launch HDP2 that makes use of “excessive precision navigation.”

Objective-built car enterprise

Alongside its first purpose-built SUV Kia goals to launch by 2025, the corporate has formally established a purpose-built car (PBV) enterprise construction, with a devoted lineup of automobiles for varied business wants. The corporate goals to develop an answer that may handle information, software program and charging for the PBVs.

Kia mentioned it believes the PBV unit might be one in all its key future companies. As such, the corporate is constructing a devoted manufacturing facility in Hwaseong, which might be unveiled in 2025 and can construct medium-sized automobiles for quite a lot of automobiles. The PBVs might be based mostly on a “flat skateboard-type platform, permitting the scale and form to be adjusted in accordance” to a enterprise companion’s objective and desires.

Kia will regularly broaden its PBV lineup to incorporate a robotaxi, a small car for delivering items or meals, and a big car that may “change public transportation or be used as a cell workplace,” the corporate mentioned.