Kia emphasizes hybrid models
(Paris) Kia expects a significant increase in its sales in the coming years and an acceleration in its production of hybrid models, the Korean automaker said Tuesday in Seoul during a conference for investors.
After a record year in 2023 with three million vehicles sold, Kia confirmed in a press release an ambitious sales target of 4.3 million units per year in 2030.
Some 1.6 million of these vehicles should be electric, with 15 new models launched by then, said this pioneer of the transition to battery-electric cars. The compact EV3 should notably expand the range downwards from 2024, before the arrival of the EV2 city car and the EV5 SUV.
Kia, the world's third largest automobile manufacturer with its partner Hyundai, also plans to launch two electric models in emerging markets, including India.
If the Korean manufacturer does not slow down on electric vehicles, it intends to accelerate on hybrid and plug-in hybrid models, which could represent nearly 900,000 sales per year in 2030, an increase of three points in total sales compared to the plan. initial.
The brand plans to increase its range of hybrid vehicles from 6 models in 2024 to 9 models in 2028.
With these hybrids, Kia wants to “face the uncertainties weighing on the mobility industry globally” and remain “flexible”, explained its management.
Car manufacturers have noted a slowdown in the growth of electric car sales in Europe since the start of the year.
“If demand for electric vehicles were to remain stable between now and 2030, its growth rate could prove to be irregular in the short term,” estimates Kia. “Demand for electric cars could be affected by various factors such as a weakening of global economic growth, the reduction of government purchasing aid and a slowdown in the deployment of charging infrastructure,” adds the group.
Kia also intends to “counter the emergence of its Chinese competitors” by providing as many of its vehicles sold in emerging markets as possible with connected features, such as remote updating.
The manufacturer also plans to manufacture cars in its Chinese factories for other emerging markets.
The brand is targeting sales of 101,000 billion won ($100 billion) in 2024 with an operating margin of 11.9%.
