Kia, more hybrids amid short-term uncertainty about electric vehicles

There are two key words behind the update released by Kia about its strategy to supply electricity to factories: flexibility and non-homogeneity. The first is the direction chosen to work between the version of electric models in the EV range – all confirmed projects, which will bring the Kia EV3 on the road, then the small EV2, EV5 SUV, EV4 – and the expansion of the hybrid offering.

The second is focustrends in demand for electric vehicles. The brand expects unchanged demand by 2030 compared to the forecast made in 2023, however, in the short term the growth in demand for electric vehicles will not be the same.

KIA, HYBRID EVERY KEY MODEL

From the annual Investor Day held in Seoul and CEO Kia, Ho Sung Song, confirmed its 2030 sales targets for electric vehicles. Above all, it emerged intend to expand the offering of hybrid models.

Read also: The Kia EV5 is preparing for its debut in Europe

From the 6 hybrid models of Kia available in various markets in 2024, the brand will start two more projects in 2026 and will reach 9 hybrid models in 2028. The strategy is in line with the choices made by other manufacturers, to relaunch distribution of hybrid electricity in the country. offer yourself. For the certainty of those who, see Jaguar Land Rover, have balanced the next launch on the market in a different way, reducing the electric innovation compared to the previous plans to support sales and hybrid models.

AMOUNT OF SALES AND APPROACHED GOALS

Kia aims to achieve electric vehicle sales of 1.6 million units per year in 2030, out of a total production of 4.3 million. This is an absolute growth target that is more than 34% higher than Kia’s total global volume expected in 2024 (3.2 million units). 250 thousand PBV vehicles, projects intended for the world of battery-powered commercial vehicles, will also contribute to the counting of electric vehicles.

The increase in the offer of hybrid cars, added to the number of electric cars, should lead Kia to reach 58% of global sales in 2030 with electric vehicles. With 1.6 million electric vehicles, a share of hybrid models of 880,000 units per year is expected.

THE MARKET IS CHANGING AND EFFECTIVE RESPONSES ARE NEEDED

“Following the brand’s successful launch in 2021, Kia is revising its global business strategy. It is working to develop a range of innovative electric vehicles and accelerate the company’s transition towards a sustainable provider of mobility solutions.“, commented Ho Sung Song.

“Kia reinforces the brand’s commitment to the well-being of customers, society, the global community and the environment. It does this by responding appropriately to changes in the mobility market and implementing effective strategies in the medium and long term.”

In a strategy update, with a major hybrid model offering already in mid-2026, Kia pointed out: “although long-term demand for electric vehicles in 2030 is expected to remain unchangedthe rate of demand growth may vary in the near future.

Things like a weak global economic growth, reduced incentives for electric vehicles and slow adoption of charging infrastructure, may affect demand for electric vehicles.

In order to respond decisively to changes in market conditions, Kia will ensure maximum flexibility in the performance of its range. Kia plans to boost its hybrid model offering from 6 currently to 9 in 2028, with hybrid engine options offered for the brand’s flagship models.”

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