Kia Corporation is accelerating its transformation into a leading provider of sustainable mobility solutions. At the recent CEO Investor Day in Seoul, the company unveiled its updated roadmap, designed to navigate the evolving landscape of the mobility industry with a particular emphasis on the electric vehicle (EV) market.

Expanding the EV Horizon

Kia’s commitment to electrification is evident in its ambitious goal to sell 1.6 million EVs annually by 2030, introducing a diverse range of 15 new models. To complement this, the company is also enhancing its hybrid electric vehicle (HEV) lineup to cater to fluctuating EV demands.

Purpose-Built Vehicles at the Forefront

Purpose-Built Vehicles (PBVs) are set to play a pivotal role in Kia’s growth strategy. With a target of 250,000 PBV sales annually by 2030, the company is focusing on models like PV5 and PV7 to meet the needs of this emerging market segment.

Investing in the Future

Kia is investing heavily in its future, earmarking KRW 38 trillion by 2028, which includes KRW 15 trillion dedicated to future business ventures. The company’s 2024 business guidance projects KRW 101 trillion in revenue with an operating profit of KRW 12 trillion, aiming for an operating profit margin of 11.9% based on the sales of 3.2 million units globally.

A Sustainable and Profitable Journey

The updated strategy reflects a significant increase in sales targets, with the 2030 goal of 4.3 million units sold annually, marking a 34.4 percent rise from the 2024 goal. This includes a higher percentage of electrified models, projecting sales of 2.48 million electrified units annually, accounting for 58 percent of Kia’s total sales in 2030.

Leadership Committed to ESG

Ho Sung Song, President and CEO of Kia, reaffirmed the company’s dedication to environmental, social, and governance (ESG) principles. “Following our successful brand relaunch in 2021, we are enhancing our global business strategy to establish an innovative EV lineup and accelerate Kia’s transition to a sustainable mobility solutions provider,” he stated.

Kia’s proactive approach to the uncertainties of the mobility market and its efficient implementation of mid-to-long-term strategies underscore its commitment to customer wellbeing, community development, and global environmental sustainability. The company’s journey towards a greener future is not just about meeting sales targets but also about fostering a healthier society and planet.