Amid slowing BEV sales growth, Kia plans to enhance its hybrid lineup - to add 3 more HEV models by 2028

Kia Corporation held its CEO Investor Day in Seoul, Korea, providing insights into its future strategies and financial targets.

The company highlighted its commitment to electrification and PBV business during the event, updating its mid-to-long-term business strategy. Kia reaffirmed its ambitious 2030 annual sales target of 4.3 million units, including 1.6 million battery electric vehicles (BEVs), representing a 34.4 percent increase compared to the 2024 target.

Kia plans to achieve a higher proportion of electrified models in its total sales, encompassing hybrid electric vehicles (HEVs), plug-in hybrids (PHEVs), and battery EVs (BEVs). The company projects electrified model sales of 2.48 million units annually, constituting 58 percent of its total sales by 2030.

However, Kia acknowledged the potential for uneven growth in EV demand in the near term, citing factors such as global economic conditions, changes in EV subsidies, and the pace of charging infrastructure development.

To adapt to market dynamics, Kia intends to maintain flexibility in its product lineup, particularly strengthening its HEV offerings from 6 models in 2024, 8 models in 2026, to 9 models by 2028.

In line with its strategy, Kia aims to increase sales of electrified models, including HEVs and PHEVs, to 2.48 million units by 2030, representing a three-percentage point increase from previous targets.

Anticipating sustained demand for HEVs, Kia plans to develop next-generation hybrid powertrains with enhanced performance and efficiency, expanding their application across various vehicle segments while bolstering production capabilities for both HEV and ICE models.

Meanwhile in Malaysia, MAA’s production data from 2023 revealed 4 units of 7-seater Kia Sorento HEV and 6 units of 6-seater Kia Sorento PHEV produced at the Inokom plant.

While these hybrid variants are not slated for introduction in the Malaysian market due to fuel requirements and pricing concerns, they may serve internal purposes or be exported to neighbouring markets such as Thailand, leveraging the Inokom plant in Kulim as Kia's regional production hub for Southeast Asia.

Also read: Hybrid and PHEV variants of 2023 Kia Sorento ruled out for Malaysia