Kia announces $12bn investment in EVs and autonomous vehicles
Mon 16 November 2015
View all news
Kia Motors, the South Korean car maker is to invest $10.2bn into the development of hybrid and pure electric vehicles (EVs), with an additional $2bn going towards the development of autonomous vehicle technology. A five year R&D plan will see Kia increase funding to meet a 25% fuel-efficiency improvement target, while rolling out seven new electric vehicle models by 2020.
The first stage of investment by Kia, totalling $2 billion by 2018, will enable the company to develop the first of its new Advanced Driver Assistance System (ADAS) technologies and employ a greater number of engineers.
The first vehicle to be launched is what Kia is calling a Hybrid Utility Vehicle (HUV), the Nitro. It has been built from the ground up to support alternative powertrain technology and will serve as a foundation for further greener innovations.
Transport Evolved reported that in addition to the the Kia Soul EV which is already on the market, will be the 2016 Kia Optima Plug-in Hybrid which is based on the same drivetrain found in the 2016 Hyundai Sonata Plug-in Hybrid. The Optima PHEV will have a 27 mile all-electric range. In some markets the Kia Optima will also be offered with a hybrid option. A brand-new hybrid crossover called the Niro remains in pre-production phase.
Kia Motors senior vice president of the eco-friendly vehicle R&D centre, Ki-Sang Lee, said: “We don’t believe that there is any one ‘silver bullet’ that can satisfy the demand for low emission technology within the car industry, so we foresee a wide range of eco-friendly powertrains co-existing for an extended period of time. The plans we’ve announced today represent Kia’s ambition to become a worldwide leader in advanced propulsion technology.”
In 2016 Hyundai-Kia will open an autonomous driving proving ground in California City, as part of its 10-year-old U.S. proving ground near Mojave, California.
Related Links
< Back to news list