One of the world's most popular car brands has announced its intention to slash its electric vehicle production targets, despite being one of the most successful companies in the UK.
Kia has revised its global sales strategy by slashing its target of 1.6 million new electric vehicle registrations to 1.26 million by the end of the decade.
In the same timeframe, Kia aims to achieve a sales target of 993,000 units of hybrid vehicles, doubling the 490,000 units expected in 2025.
By 2030, the South Korean automotive giant aims to have 15 electric vehicle models and 10 hybrid models on the market, in addition to increasing global production capacity by 17 per cent.
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Kia has cut its electric vehicle sales targets by more than 20 per cent
KIA
This will be expanded with the EV2, EV3, EV4 and EV5 models, as Kia aims to enhance EV customer service and charging infrastructure via strategic partnerships.
It stated that it would also expand its Platform Beyond Vehicle (PBV) lineup with the PV5 van, as well as plans to enter the pickup truck sector.
At its CEO Investor Day in 2025, Kia's Plan S business strategy outlined the aim to achieve revenue of 170 trillion Korean Won (£89.8billion) in the mid-to-long-term.
Kia plans to sell 1.11 million units in North America, with a further 774,000 units in Europe by the end of the decade. It hopes a further 580,000 sales will come from South Korea, and 400,000 from India.
Kia also said it would target specific vehicle types for certain regions, with North America focusing on mid-to-large SUVs, compact SUVs and hatchbacks in Europe and "locally targeted" compact SUVs in India.
According to Reuters, Kia acknowledged increasing uncertainty around policies in the United States and the impact they could have on the global auto industry.
Donald Trump's 25 per cent tariff on foreign car imports is already having a dramatic impact on global stocks and shares, prompting certain manufacturers to consider their US operations.
Jaguar Land Rover announced that it would be pausing shipments of vehicles to the United States in response to the tariffs, while other brands have amended production schedules of new vehicles.
Despite global panic and fears of a recession, the President has pushed ahead with "Liberation Day" and slapped China with even harsher taxes.
Data from the Society of Motor Manufacturers and Traders (SMMT) shows that 35,063 new Kia models have been registered in the UK so far this year.
This gives them a healthy 6.04 per cent of the market share, with sales up almost six per cent compared to the same time last year.
It also places the South Korean brand among the top three manufacturers in the UK, falling just behind BMW in second with 35,559 registrations and Volkswagen (53,156 sales) in first.
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Kia's CEO Investor Day took place today in Seoul, South Korea
KIA
Sales are headlined by the Kia Sportage, which has sold 12,886 models year-to-date, as the second best-selling car in the UK behind the popular Ford Puma (14,930).
The Kia Sportage also placed second in March with 7,874 new registrations, again falling behind the Ford Puma.
