Kia Unveils Roadmap to Lead the Era of Global Electrification Through Electric, Hybrid and PBV Vehicles By Investing.com

• Kia promotes transformation into “Sustainable Mobility Solution Provider”
• The roadmap allows Kia to proactively respond to mobility uncertainties industry landscape, including changes in the electric vehicle market
• Company expands electric vehicle lineup with more models; improve the HEV range manage fluctuations in demand for electric vehicles
  • Aim to sell 1.6 million electric vehicles per year in 2030, introducing 15 models
  • PBV will play a key role in Kia’s growth, aiming for 250,000 PBV sales per year by 2030 with the PV5 and PV7 models
• Make your investment 38 trillion KRW by 2028 inclusive 15 trillion KRW for future business
• Business guidance for 2024: KRW 101 tln of revenue with KRW 12 tln running profit; operating profit margin of 11.9% on sales of 3.2 million units globally
• CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial goals at its CEO Investor Day Seoul, Korea.

Building on the innovative results achieved in the years since the announcement of medium- and long-term business initiatives, Kia is focusing on updating the 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties in the global landscape of the mobility sector.

During the event, Kia updated its medium- and long-term corporate strategy focusing on electrification and PBV business. Kia reiterated its annual sales target of 4.3 million units by 2030, including 1.6 million units of electric vehicles (EVs). The 4.3 million annual sales target for 2030 is 34.4% higher than the brand’s 2024 annual target of 3.2 million units.

The company also plans to become a leading electric vehicle brand by selling a greater percentage of electrified models of its total sales, including hybrid electric vehicles (HEVs), plug-in hybrids (PHEVs) and battery electric vehicles, forecasting sales of electrified models of 2.48 million. units per year, or 58% of Kia’s total sales in 2030.

“Following a successful brand relaunch in 2021, Kia is strengthening its global business strategy to drive the creation of an innovative electric vehicle lineup and accelerate the company’s transition to a sustainable mobility solutions provider,” he said To the song sung, President and CEO of Kia. “By effectively responding to changes in the mobility market and efficiently implementing medium- and long-term strategies, Kia is strengthening its brand’s commitment to the well-being of customers, communities, global society and the environment.”