Kia Corporation has outlined a dynamic and evolving electric vehicle (EV) strategy aimed at balancing growth, profitability, and adaptability to market conditions.
Kia has revised its EV sales target to 1.26 million units by 2030, down from its earlier goal of 1.6 million units, citing increasing global uncertainty, including shifting policies in key markets like the United States, Reuters news report said.
At the same time, Kia is placing stronger emphasis on hybrid vehicles, with a target of selling 993,000 hybrid units by 2030, reflecting a pragmatic approach to electrification that meets immediate consumer demand while still progressing toward long-term sustainability.
In 2024, Kia achieved significant growth in its electrified vehicle segment, selling a total of 638,000 units globally — a 10.9 percent year-over-year increase. This included 201,000 fully electric vehicles, up 10.2 percent from the previous year, and 367,000 hybrid vehicles, which saw a substantial 20 percent increase. Electrified models accounted for 21.4 percent of Kia’s total global sales, a 2.3 percentage point rise from 2023, driven primarily by the growing popularity of hybrid powertrains.
The company is expanding its EV portfolio with the upcoming global rollout of the EV4 and EV5 models. Additionally, Kia is entering new market segments with the launch of the Tasman pickup truck, the PV5 purpose-built vehicle (PBV), and the Syros SUV, a strategic model for India. These launches will support Kia’s strategy to strengthen its presence across diverse global markets, particularly in regions showing rapid demand growth such as North America, the Middle East, and Asia-Pacific.
Kia’s flexible product and powertrain strategy has enabled strong performance in key regions. In 2024, global sales reached a record 3.09 million units, with revenues climbing to KRW 107.45 trillion, up 7.7 percent from the previous year. Operating profit rose 9.1 percent to KRW 12.67 trillion, with an operating margin of 11.8 percent. This financial strength underpins Kia’s ongoing investments in electrification and innovation.
Looking ahead to 2025, Kia aims to sell 3.22 million vehicles globally, with continued growth in the EV and HEV segments. The company expects to generate KRW 112.5 trillion in revenue and KRW 12.4 trillion in operating profit, maintaining a strong double-digit margin. Despite global uncertainties, Kia remains focused on enhancing its electrified lineup, improving product competitiveness, and expanding its footprint in both established and emerging markets.
Baburajan Kizhakedath