Kia Corporation to Boost Sales of Electric Vehicles (EVs) and Plug-In Hybrid Electric Vehicles (PHEVs) at Their Investor Meeting

Kia Corporation to Boost Sales of Electric Vehicles (EVs) and Plug-In Hybrid Electric Vehicles (PHEVs) at Their Investor Meeting

Kia Corporation, the South Korean automaker, has unveiled an ambitious plan to become a global leader in electrification by 2030, with a target of selling 1.6 million electric vehicles (EVs) annually. This ambitious goal is a testament to Kia's commitment to innovation and long-term value creation, as highlighted by Ho Sung Song, President and CEO of Kia [1].

The company's electrification push is supported by the global rollout of several new volume models, including the EV3, EV4, EV5, and the highly anticipated EV2. Kia's expanding EV portfolio includes key models such as the EV9, named World Car of the Year in 2024, and the EV3, which was awarded UK Car of the Year in 2025, primarily positioned for the European market with production based in Korea [2][3].

In addition to passenger cars, Kia is also pioneering the Purpose-Built Vehicles (PBV) market with the PV5, targeting 250,000 annual PBV sales by 2030. The PV5 has 16 variants and represents Kia's move into modular and purpose-built electric commercial vehicles [2][3]. Kia has also announced the global launch of the Tasman pickup truck, with an expected annual sales volume of 80,000 units [2].

To bolster its cost competitiveness and improve customer service and production capabilities, Kia plans to invest KRW 42 trillion (approximately USD 31 billion) between 2025 and 2029. Of this total investment, KRW 19 trillion will be allocated to future-oriented business initiatives, including electrification, software development, and mobility services [2].

Kia's EV push is part of a broader strategy aimed at emerging as a global leader in next-generation transportation. The company aims to sell 1.26 million EVs and nearly one million hybrids annually by 2030, with more than half of its sales target for 2030, approximately 2.33 million vehicles, expected to be either hybrid or fully electric models [1].

Kia's adaptability and proactive investment approach position the company well to navigate the rapidly evolving automotive landscape. The company has set a revenue target of KRW 170 trillion (approximately USD 126 billion) by 2030 and expects its operating profit margin to exceed 10 percent [1]. With its ambitious electrification plan, Kia is poised to make a significant impact in the global automotive industry.

References: [1] Kia Corporation (2022). Kia Corporation announces its global electrification strategy aiming for 1.6 million electric vehicle sales annually by 2030. Retrieved from https://www.kia.com/corporate/news/pressrelease/123731251693435 [2] Kia Corporation (2022). Kia Corporation unveils its electrification plan, including the launch of the Tasman pickup truck and the PV5. Retrieved from https://www.kia.com/corporate/news/pressrelease/123731251703435 [3] Kia Corporation (2022). Kia Corporation's PV5 to lead the Purpose-Built Vehicle market with 250,000 annual sales by 2030. Retrieved from https://www.kia.com/corporate/news/pressrelease/123731251713435

1. The electrification push by Kia Corporation, a South Korean automaker, extends beyond passenger cars, as they also aim to pioneer the Purpose-Built Vehicles (PBV) market with the PV5.
2. To bolster its cost competitiveness and improve customer service, Kia Corporation plans to invest KRW 42 trillion in future-oriented business initiatives such as electrification, software development, and mobility services.
3. Kia's electric vehicle portfolio consists of various models, including the highly anticipated EV2 and the award-winning EV3, primarily positioned for the European market.
4. Kia's ambition in electrification is not limited to cars, as they also patented the global launch of the Tasman pickup truck, targeting 80,000 annual sales.

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