Is it doable? Kia targets 1.6 million EV sales by 2030

Kia Motors Corporation has announced that it will target to sell 1.6 million electric vehicles by 2030. This is up by 400,000 units from its previous goal of 1.2 million. 

The South Korean carmaker is also looking at a total of 4.3 million overall sales by that year. That means its EV sales will represent only 37% of the whole pie, and this will be buoyed by an EV lineup of 15 models by 2027.

At its CEO Investor Day held last April 5th, Kia stated its plans to become a leading EV brand by raising the proportion of electrified car sales to 55 percent (2.38 million units) in 2030. This should include hybrid variants of existing models in the mix.

Kia’s other EV-focused sales targets include:

2023: EV annual sales target at 258,000 units, 8 % of all sales

2024: Kia to operate first dedicated EV factory at Gwangmyeong

2026: EV annual sales target at 1 million units, 25% of all sales

2027: EV lineup of 15 models (up 1 model from 2027 goal announced in 2022)

2030: EV annual sales target at 1.6 million units, 37% of all sales

Considering Kia only has one dedicated Battery Electric Vehicle model currently available, the EV6, it would seem it has set a tall order for itself in the coming years. 

Kia recently unveiled its new flagship EV SUV, the EV9, and will follow this with the EV5 initially for the Chinese market. It also sells the Kia Niro EV as a more affordable Battery Electric Vehicle option in other markets. 

For the Philippines, the brand currently sells the EV6 GT-Line. Kia’s Philippine distributor, Ayala Corporation, is positioning itself toward achieving net zero greenhouse emissions across its businesses by 2050. It is also rolling out EV charging stations nationwide as part of the ecosystem it is setting up to support its brands and objectives.

What other EV models Kia Philippines will consider for the local market to support the brand's corporate goals remains to be seen.

Should Kia Philippines add more EV models to its local lineup?