South Korean automaker Kia Corporation revealed its updated mid-term business plan at the Kia CEO Investor Day conference in Seoul this week, with the company lowering its 2030 annual sales target to 4.19 million units from 4.3 million citing macroeconomic challenges and growing geopolitical risks.
Kia’s president and CEO, Ho Sung Song, told investors the company is aiming for a 4.5% global market share by 2030, supported by a 17% increase in global production capacity from 3.63 million to 4.25 million units. By the end of the decade, the company is targeting annual revenues of KRW 170trn (US$117bn) and an operating margin of 10%. By region, the company said it is targeting annual sales of 1.11 million vehicles in North America, 774,000 units in Europe, 580,000 units in South Korea and 400,000 units in India.
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Kia also revealed it is targeting a 4.3% share of the global battery electric vehicle (BEV) market by 2030 with annual sales of 1.26 million units, including new models such as the EV3, EV4, EV5. This target also includes 250,000 PBV sales, supported by the launch of the PV5 in 2025, PV7 in 2027 and PV9 in 2029. The company is also targeting 1.07 million hybrid and plug-in hybrid sales by the end of the decade, with ten xHEV models available.
Kia said it is targeting 80,000 annual sales of its new Tasman pickup truck, which will also be available with electrified powertrains, for a 6% share of segment sales. A new electrified pickup is planned for the North American market, targeting 90,000 annual sales in the long term.
The company, in collaboration with Hyundai Motor, is also committed to developing next-generation technologies such as software-defined vehicles (SDVs), autonomous driving, robotic integration and multimodal transport networks with advanced air mobility (AAM) solutions. The company plans to launch its “SDV Pace Car” in 2026, with Level 2+ autonomous driving to feature from 2027.
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