Kia aims to reach $122B gross revenue by 2030

News Summary

  • By next year, the company said it will begin operating its first dedicated EV factory at Gwangmyeong.Kia also said it will release 15 new EV models by 2027, which is one more model than the company had promised last year.
  • Kia hiked its global sales goal to 4.3 million units from 4 million units by 2030, and its annual EV sales goal to 1.6 million units from 1.2 million units by 2030.
  • At the company’s 2023 CEO Investor Day on Wednesday, Kia’s leadership said the company aims to reach KRW 160 trillion ($122 billion) in gross revenue by 2030.The financial goal is part of a general update of Kia’s future-focused strategy, “Plan S,” which launched in 2020 and featured new branding.
  • The company aims to develop a solution that can manage data, software and charging for the PBVs.Kia said it believes the PBV unit will be one of its key future businesses.
  • Wednesday’s update also includes a KRW 32 trillion ($24 million) investment into the automaker’s electrification strategy, with 45% of that money dedicated to “future business areas.”The funds should help Kia nudge its output up over the next few years.
  • The company is targeting 258,000 EV sales by 2023 and 1 million units by 2026, which will be 8% and 25% of all Kia sales, respectively.
A year after Kia unveiled its roadmap to sustainable mobility by 2030, the Hyundaiowned brand has upped the ante. At the companys 2023 CEO Investor Day Wednesday, Kias leadership said the company [+3221 chars]