Kia lowers its EV sales targets

Kia has revised its global sales strategy and now expects to sell 340,000 fewer electric vehicles (EVs) by 2030.

At its annual investor day, the brand presented its latest sales forecast which includes an overall reduction in its 2030 global sales target from 4.3m to 4.19m.

The Korean vehicle maker plans to have a line-up of 15 EVs by 2030, achieving global sales of 1.26m. This includes its new electric van models.

Kia's car range will expand with the EV2, EV4 and EV5, within the next five years. It will also launch two more vans by 2029, giving a total of three models.

Kia will diversify its hybrid lineup across all segments, from compact to full-size models. In response to growing hybrid demand, the company aims to increase hybrid sales to nearly one million units by 2030 – double the 490,000 units expected in 2025.

To optimise its supply chain, Kia will expand local EV production in key regions. Korea will serve as the global hub for EV development and production, North America will focus on mid-to-large SUVs, Europe on compact SUVs and hatchbacks, and India on locally targeted compact SUVs.

Kia will maintain flexibility by producing its entire lineup – internal combustion engine vehicles, hybrids, and EVs – at 13 existing manufacturing facilities worldwide while enhancing production efficiency with two dedicated EV plants.

For its commercial vehicles (PBV), Kia's Fleet management services will be enhanced with AI-powered predictive maintenance and contextual accident analysis. These capabilities will be integrated into Kia’s third-generation Fleet Management System (FMS), helping businesses improve operational efficiency and reduce costs.

Kia will package its FMS solutions with essential operational services, including financing, charging, and maintenance, to streamline vehicle ownership and management for B2B customers. These service packages will be integrated with a one-billing system.

The company will designate select dealerships as PBV specialists and develop business lounges where customers can experience the full range of PBV vehicles, solutions, and services in a single location. This will be supported by a dedicated PBV website for customers and a body-builder conversion portal for conversion partners to ensure easy access to PBV-related information and services.

Kia achieved record-high annual revenue and operating profit margin in 2024 and has set its 2025 business plan with wholesale sales of 3.22 million units, a 4.1% increase year over year.