Kia Cuts 2030 EV Target to 1 Million Units

SEOUL, South Korea – Kia Corp, South Korea's second-largest automaker, announced on Thursday a revised long-term strategy aimed at navigating a global slowdown in electric vehicle demand, including a 20 percent cut to its 2030 EV sales target to 1 million units and a slight reduction in overall vehicle sales goals to 4.13 million units.

The updates, presented at Kia's 2026 CEO Investor Day in Seoul, reflect challenges such as weaker EV uptake and the U.S. government's elimination of EV subsidies last year. Despite these headwinds, Kia committed to investing 49 trillion won ($33 billion) in facilities and research and development through 2030, a 7 trillion won increase from its prior five-year plan. Of this, 43 percent will support electrification, autonomous driving and robotics, signaling a balanced approach that expands both EV and hybrid offerings.

Kia plans to grow its EV lineup from 11 models in 2026 to 14 by 2030, with production localized in key markets: compact models like the EV2 and EV3 in South Korea, larger SUVs such as the EV6 and EV9 in the U.S., and vehicles including the Syros EV in India. To address varying regional electrification paces, the company will...