Kia outlines EV sales ambitions at annual Investor Day


Kia has set itself a goal of annual goal of 1.6m EV gross sales by 2030, accounting for 37% of all gross sales.

It plans to regionally produce EVs in US, Europe, China and India. Within the US, it goals to provide key EV fashions regionally, starting 2024, consistent with implementation of the Inflation Discount Act (IRA).

The carmaker has a manufacturing facility in Slovakia which may very well be expanded or a brand new plant may very well be on the playing cards.

Kia introduced the plans at its Kia Investor Day. It mentioned in China it plans to provide small and medium-sized EV fashions, together with the just lately unveiled EV5, and India may even produce small EV fashions optimised for the native market and different rising markets from 2025.

Korea will function a world hub for analysis, improvement, and manufacturing of EV fashions.

Kia will construct its first devoted EV manufacturing facility in Korea in 2024. Kia will convert the manufacturing line of manufacturing facility in Gwangmyeong for EV manufacturing, planning to start out manufacturing of two EV fashions subsequent 12 months.

“In 2021, Kia went by a full-scale transformation of its company identify, brand, product and design, in addition to company technique.

“Consequently, our model worth has improved considerably, serving to us to win numerous ‘Automotive of the 12 months’ awards in key markets,” mentioned Kia President and CEO Ho Sung Tune.”

Highlights from Kia Investor Day

2030 : Annual gross sales goal of 4.3 mil. items (+34 %  from 2023 goal)

World electrified automobile gross sales goal of two.38 mil. items, 55% of all gross sales

2026 : 4.01 mil. items (+25 % from 2023 goal)

2023 : Annual gross sales goal of three.2 mil. items (+10.3%  from 2022 outcomes)

2027 : EV line-up of 15 fashions (up 1 model from final 12 months’s announcement)

2026 : EV annual gross sales goal at 1 mil. items, 25% of all gross sales

2024 : Kia to function first devoted EV manufacturing facility at Gwangmyeong, S.Korea



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