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Kia Outlines Strategy to Lead Global EV Transition

Source: Kia

SEOUL, South Korea - Kia Corporation announced its updated mid- to long-term business strategy, focusing on electrification and the Purpose-Built Vehicle (PBV) business. 

The company aims to sell 4.3 million units annually by 2030, including 1.6 million electric vehicles (EVs).

Kia plans to expand its EV lineup to 15 models and expand its hybrid electric vehicle (HEV) lineup to manage fluctuations in EV demand. 

The automaker also aims to sell 250,000 PBVs annually by 2030 with its PV5 and PV7 models.

The company will invest $28.1 billion through 2028, with $11.1 billion earmarked for future operations. 

Kia's 2024 business forecast calls for $74.8 billion in revenue, $8.9 billion in operating profit, and an operating profit margin of 11.9% on global sales of 3.2 million units.