Kia Sees Profitable Future In Electric Cars
Profitability of Kia EVs is within 3 years.
According to Autocar, Kia expects that break even on EVs is achievable in Europe within 2-3 years, which would be somewhere near the end of 2021.
“Making profit out of electric cars is not easy, but Kia reckons it will break even in Europe on its range of two battery-electric cars within two to three years – even at the competitive price of £30k for the e-Niro unveiled recently. Kia plans to sell 30,000 electric cars annually by 2020/21.”
The thing that catches our attention is the planned volume of 30,000 electric cars annually by 2020/2021, which sounds low, not only for the booming EV market, but also from a profitability standpoint. Maybe the number concerns only Europe though?