Kia Corporation shared its mid-to-long-term business strategies and financial targets at its CEO Investor Day held in Seoul, Korea.
As part of Kia’s updated Plan S strategy, the company plans to achieve global sales of 4.19 million units by 2030 (a market share of 4.5%), including 2.33 million hybrid and fully electric vehicles.
Ho Sung Song, President and CEO of Kia, said: “Since launching the Kia Transformation strategy in 2021, Kia has continuously progressed to become a provider of sustainable mobility solutions that innovate space and enable customers to make better use of their time beyond conventional means of transportation.
“We will continue to develop the brand by implementing mid-to-long-term strategies to strengthen our internal stability and respond effectively to changes in the auto industry.”
In terms of pure electric vehicles, Kia has set a target of 1.26bn sales by 2030. Kia is planning to have a global EV market share of 4.3%.
Kia is diversifying its growth engines by introducing new models, such as PBVs and pickup trucks, and through other key future businesses.
PV5 launched this year, PV7 will arrive in 2027 while PV9 is expected to arrive in 2029. Kia aims to sell 250,000 PBVs by 2030.
Kia aims to achieve c. £89.6bn in revenue and over 10% operating profit margin by 2030. It will invest c.£22.1bn in 2025 to 2029 and c.£10bn for future business.
This year, Kia is focusing on achieving c.£59.1bn in revenue (market share of 3.7%) and an operating profit margin of 11% on global sales (over 3.2 million units).
