Kia, the Korean automaker, has unveiled ambitious plans to electrify its fleet during its annual Kia CEO Investor Day presentation. The company aims to achieve over half of its global sales from electrified vehicles by 2030, and is targeting a 34% increase in its total global volume to 4.3 million units.
The CEO of Kia, Ho Sung Song, has stated that the company intends to sell 2.38 million full-electric and hybrid vehicles in 2030, an increase of 300,000 units from the previous year’s target. Of these, 1.6 million vehicles, or 37% of anticipated global sales in 2030, will be battery-electric models. This marks a significant increase from Kia’s 1.2 million target for global EV sales in 2030, set just last year.
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Kia also has plans to make EVs 32% of its overall corporate profit in 2026 and 53% in 2030, a significant increase compared to the 5% contribution EVs made to the overall profit in 2022. The company expects better profitability to come from a 55% reduction in battery costs by 2030 compared to 2018 prices.
Kia is also expanding its full-electric lineup, with plans to introduce 15 models by 2027. The recently launched Niro EV and EV6 will be joined by the EV9 three-row crossover, which will be released later this year in Korea. The EV5 will follow in the fourth quarter of 2023 in China. Kia’s first dedicated EV factory will open next year in Gwangmyeong, outside Seoul, to support this expansion.
In addition, Kia will produce key EV models in the US beginning in 2024 with the EV9, which will be made at the company’s West Point, Georgia facility. The company also plans to produce small and medium-sized EVs in Europe and China, as well as small EVs in India.
Kia will also offer a high-performance GT trim on all future EV models, including the EV9. The company is also working on hands-off Highway Drive Pilot (HDP) conditional Level 3 automated driving, which will debut on the EV9 later this year, followed by HPD2 technology that will support “eyes-off” driving under certain conditions from 2026.
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Kia’s purpose-built vehicles (PBVs) will also play an important role in electrification. The company plans to launch a mid-size PBV in 2025, which will be made at a dedicated production facility in Hwaseong, South Korea. The plant will eventually build a full lineup of PBVs, including a robotaxi with autonomous driving technology.
Kia’s ambitious plans mark a significant step towards its goal of becoming a leading EV manufacturer. With a commitment to cutting battery costs and expanding its EV lineup, the company is well-positioned to take advantage of the growing demand for electric vehicles worldwide.
