Kia targets 4.19 million units sold by 2030, expanding EVs and pickups

Home > Business > Industry

Kia targets 4.19 million units sold by 2030, expanding EVs and pickups

Published: 09 Apr. 2025, 19:08

Audio report: written by reporters, read by AI

Kia CEO Song Ho-sung explains the company's visions for 2030 during the 2025 CEO Investor Day held in central Seoul on April 9. [KIA]

Kia announced on Wednesday that it aims to sell 4.19 million vehicles globally by the year 2030, targeting a 4.5 percent share of the global automobile market.

The announcement was made during the company’s 2025 CEO Investor Day at the Shilla Hotel in central Seoul. At this event, Kia presented its updated mid- to long-term growth strategy to investors and analysts, detailing its plans for overcoming current market headwinds and securing sustainable growth.

The automaker acknowledged the prolonged stagnation in electric vehicle (EV) demand, often referred to as the “EV chasm,” and laid out a plan to lower its EV sales targets while expanding its hybrid offerings. Kia emphasized that it would continue to pursue a transition to environmentally friendly vehicles and revealed its intention to push into the North American pickup truck market by introducing a new model tailored to that region.

For this year, Kia has set a global sales target of 3.22 million units. The company announced its target to achieve annual revenue of 112.5 trillion won ($76 billion) and operating profit of 12.4 trillion won.

More and eco-friendlier

As part of its 2030 vision, Kia plans to dramatically increase the proportion of environmentally friendly vehicles in its product portfolio.

Kia cars at the Seoul Mobility Show 2025 on April 3 [KIA]

By the end of 2025, the company expects to offer 32 models, including 23 internal combustion vehicles, counting hybrids, and 9 EVs. By 2030, it aims to shift this lineup to 17 internal combustion models and 15 EVs. In particular, Kia will increase the number of hybrid models to 10 and plans to sell approximately 993,000 hybrids by 2030.

Kia's overall environmentally friendly vehicle sales target for 2030 is 2.33 million units, up significantly from 897,000 units projected for 2025. This would bring the share of environmentally friendly vehicles in the company’s global sales to 56 percent by 2030.

However, Kia revised its previously stated 2030 EV sales target down from 1.6 million units to 1.259 million units, reflecting slowing demand and increasing price competition from Chinese automakers.

To support these goals, Kia will invest 42 trillion won over the next five years through 2029, a 4 trillion won increase from its previous five-year investment plan.

Of this total, 19 trillion won will be dedicated to future businesses. Within that allocation, 67 percent will go toward automation, 9 percent will be invested in software-defined vehicles, 8 percent will support AAM and robotics each, 5 percent will go toward energy, 3 percent will be used for mobility and the remaining 7 percent will be allocated to other future-oriented projects.

Kia cars at the Seoul Mobility Show 2025 on April 3 [KIA]

Pick up the pickup

As a new growth driver, Kia is turning to pickup trucks.

The company plans to begin with the Tasman, a midsize pickup truck that was unveiled at the 2024 Jeddah International Motor Show last October.

It will first launch the model in Korea and emerging markets such as Australia, with the goal of selling 80,000 units annually and achieving a market share of 6 percent in regions outside North America.

In the United States, Kia plans to introduce a dedicated electric pickup built on a specialized platform. Through this model, the company aims to reach annual sales of 90,000 units and capture a 7 percent share of the U.S. pickup market.

Kia cars at the Seoul Mobility Show 2025 on April 3 [KIA]

Kia is also preparing to expand its presence in the purpose-built vehicle (PBV) segment.

Beginning with the launch of the PV5 in the second half of this year, the company plans to broaden its PBV lineup in the years to come. By 2030, Kia aims to sell 250,000 PBVs annually, including 133,000 units in Europe, 73,000 units in Korea and 45,000 units in other regions.

In addition to its growth strategies, Kia unveiled updated shareholder return policies. The company has committed to a minimum annual dividend of 5,000 won per share and to maintaining a dividend payout ratio of at least 25 percent. Furthermore, Kia will cancel 100 percent of its treasury shares repurchased during each half of the year as part of its shareholder-friendly initiatives.

“The company will continue to reinforce its fundamentals and implement its mid- to long-term strategy to respond effectively to changes in the automotive industry,” Kia CEO Song Ho-sung said. “This approach will allow Kia to sustain the advancement of its brand well into the future.”

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.

BY PARK YOUNG-WOO [[email protected]]