Kia will launch a new mid-sized electrified pickup to target North America, the world's largest pickup market, following the Tasman. While the Tasman targets emerging markets such as South Korea, Australia, and the Middle East, the plan is to introduce a dedicated model for North America.
Song Ho-sung, president of Kia, presented a long-term growth strategy that includes this information at the '2025 CEO Investor Day' for investors and analysts on the 9th. The strategy also outlines targets for new vehicle launches and sales, including electric vehicles (EVs) and purpose-built vehicles (PBVs), annual business plans, and financial goals.
◇ Specifying pickup, popularizing EVs, and PBV strategy
Kia plans to launch the Tasman in emerging markets such as Australia and the Middle East this year, starting from South Korea, with an average annual sales target of 80,000 units and a market share of 6% (excluding North America). In North America, Kia aims to release a mid-sized electrified pickup based on a new electric vehicle platform, achieving a long-term sales target of 90,000 units per year and a market share of 7%.
Amid a temporary decrease in electric vehicle demand, known as the electric vehicle chasm, and ongoing geopolitical uncertainties, the sales target for electric vehicles is set at 324,000 units this year, rising to 783,000 units by 2027 and 1,259,000 units by 2030. This target is lower than the previously announced target during last year’s Investor Day of 1,147,000 units for 2027 and 1,600,000 units for 2030.
Kia plans to expand its electric vehicle lineup with models such as EV3, EV4, and EV5, aiming to establish a full lineup with the launch of EV2 in 2026. The company plans to develop next-generation batteries with cost competitiveness and product viability, while optimizing hardware and advancing vehicle software to secure price competitiveness.
In terms of PBVs, Kia plans to sequentially launch PV7 in 2027 and PV9 in 2029, following the PV5 launch in July of this year. The sales target is set at a total of 250,000 PBVs, with 133,000 units in Europe, 73,000 units domestically, and 45,000 units in other regions (including 135,000 units of PV5 and 115,000 units of PV7 and PV9).
◇ By 2030, 56% market share for eco-friendly vehicles, targeting hybrid as well
This year's global market sales target is set at 3.22 million units, with plans to reach 3.75 million units by 2027 and 4.19 million units by 2030, aiming for a market share of 4.5%. The 2030 target was adjusted down by 110,000 units from the previously announced target of 4.3 million units during last year's Investor Day, reflecting the realism of sales targets in China.
Kia plans to increase eco-friendly vehicle sales from 897,000 units (28% of total sales) this year to 2,333,000 units (56%) by 2030. Of this, the plan is to sell 1,259,000 electric vehicles and 1,074,000 hybrids and plug-in hybrids (PHEVs).
Due to the increase in global demand, Kia aims to sell 492,000 vehicles across six models including K5, K8, Niro, Sportage, Sorento, and Carnival this year, and expand its portfolio to 10 models across all segments, reaching a sales target of 993,000 units by 2030. The company also plans to expand its powertrain production facilities.
This year, Kia aims to sell 3,216,000 units, an increase of 4.1% compared to the previous year (wholesale basis, retail 3.17 million units), and achieve a global automobile market share of 3.7%. For financial goals, it aims for revenue of 112.5 trillion won, an increase of 4.7% from the previous year, while operating profit is projected to be 12.4 trillion won, a decrease of 2.4%, with an operating profit margin of 11.0%, down 0.8 percentage points.
Regarding future investment plans for the next five years, Kia has decided to invest a total of 42 trillion won, an increase of 4 trillion won compared to the existing five-year plan (2024-2028). Among this, investments in future businesses will amount to 19 trillion won, with 67% in electrification, 9% in software-defined vehicles (SDVs), 8% in advanced air mobility (AAM) and robotics, 5% in energy, 3% in mobility, and 7% in others.