Kia has announced that it will expand its range of hybrid models in response to the global decline in demand for electric vehicles. Kia revealed that it will launch nine hybrids by 2028, without disclosing which models will receive electrified versions.
The decision by the South Korean brand was made during the “2024 Investor Day,” which aimed to reinforce the brand’s goal of achieving sales of 4.3 million vehicles per year by 2030, including 1.6 million units that are 100% electric.
However, the company acknowledges that the growth in electric vehicle sales is “slowing down due to economic recession, subsidy cuts, and lack of charging infrastructure”. In this sense, the South Korean brand predicts that hybrids will account for 20% of its global sales in 2030, up from the estimated 14% in 2024.
In addition, Kia plans to increase sales of electrified models to 2.48 million units, representing 58% of sales, by 2030, with 882 thousand units of hybrids and plug-in hybrids. This is a three-percentage-point increase from last year’s target and reinforces Kia’s strategy to shift the sales structure with an even greater focus on electrified model ranges.
In this sense, Kia also confirmed that it will develop a new generation of hybrid engines with “greater power and fuel efficiency,” in an attempt to “diversify” its product offering.
Kia’s medium to long-term business strategy, however, maintains a focus on 100% electric models, and thus the brand will continue to expand its electric vehicle offering in the coming years, launching six new models by the end of 2026: the EV2, EV3, EV4, EV5, updated EV6, and the GT version of the EV9.
By the end of 2025, the brand will launch the new line of electric vans PBV, starting with the PV5, a medium-sized van, which will be followed by the PV7 arriving in 2027.
Furthermore, in order to improve battery performance and ensure competitiveness in terms of costs, Kia plans to focus on upgrading its technology, improving energy density and offering nickel-cobalt-manganese (NCM) batteries. The brand will also provide various battery options, including lithium iron phosphate (LFP) batteries, to meet the diverse needs of global markets.
