Kia cuts 2030 EV target by over 20%

South Korean automaker Kia cut its 2030 EV sales target by about 20% to 1 million in an investor presentation, citing weaker demand and the end of the US EV subsidies last year.

Kia also lowered its 2030 total vehicle sales goal to 4.13 million from 4.19 million units, and its shares were down 4.2% after earlier rising as much as 2.5%.

The company said it will deploy Boston Dynamics’ Atlas humanoid robots at its Georgia factory from 2029, joining Hyundai, which plans to use the robots at a new Savannah plant from 2028.

Kia also plans to boost its investment plan over the next four years by 30% to boost ‌vehicle electrification, software and other new businesses.

The company plans to raise its investments to 41.4 trillion won ($27.95 billion) from 2026 to 2029.

🔗 Source: Reuters

🧠 Food for thought

Implications, context, and why it matters.

Kia cuts its BEV target and raises its hybrid goal for 2030

Kia now targets 1.26 million battery electric vehicles (BEVs) in 2030, down 340,000 from its earlier plan 1.
The change shifts product planning toward hybrids while keeping electrification as the center of the 2030 roadmap.
The company doubled its 2030 hybrid sales target to nearly 1 million vehicles 1.
Kia still aims for 2.33 million electrified vehicle sales by 2030 across EVs and hybrids, or 56% of its overall sales goal 2.

Atlas robot deployment marks a factory workforce shift

Hyundai Motor Group, Kia’s parent, plans to place tens of thousands of Boston Dynamics robots in its plants and build a factory that can produce 30,000 robots a year 3.
The plan focuses on automating higher-risk and repetitive work like parts sequencing plus component assembly, with people still needed for maintenance and training 4.
The rollout tests whether humanoid robots can handle factory work where earlier commercial robots struggled, including SoftBank’s Pepper, a social robot built for customer interaction 5.
Analysts expect a large humanoid-robot market, yet they see adoption moving slowly until the mid-2030s 5.