Kia Motors Corp cuts EV sales target by 30% to 1 million units by 2030

From Investing.com: 2025-04-09 01:20:00

South Korea’s Kia Motors Corp has slashed its target for electric vehicle (EV) sales by 30% to 1 million units by 2030. The move is due to challenges in the global EV market, including increased competition and supply chain disruptions. Kia originally aimed to sell 1.5 million EVs by 2030.

The automaker is also adjusting its strategy to focus more on electric vehicles that are affordable for consumers, rather than high-end models. Kia plans to launch several new EV models in the coming years to cater to a wider range of customers and boost sales in the competitive market.

Kia’s decision to lower its EV sales target comes as other automakers, including Ford and General Motors, are ramping up their electric vehicle production and sales goals. The global shift towards electric vehicles has put pressure on traditional automakers to accelerate their transition to EVs and meet growing demand for sustainable transportation options.

Despite the challenges in the EV market, Kia remains committed to expanding its electric vehicle lineup and increasing its market share in the growing industry. The automaker is investing heavily in research and development to develop new EV technologies and improve the performance and affordability of its electric vehicles.

Kia’s revised EV sales target reflects the evolving landscape of the electric vehicle market and the need for automakers to adapt to changing consumer preferences and industry trends. The company’s strategic shift towards more affordable electric vehicles aims to position Kia as a key player in the competitive EV market and drive long-term growth for the brand.



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