Kia boosts electric vehicle sales goal to 1.6 million by 2030, but is it enough?
Kia updated its electric vehicle strategy Wednesday at its CEO Investor Day 2023 in Seoul, Korea. The automaker says it’s now aiming to sell 1.6 million EVs by 2030, up 400,000 from the previous guidance of 1.2 million.
With Kia forecasting 4.3 million overall sales by then, it would mean EVs would only account for 37% of all sales.
Kia raises EV sales goal to 1.6 million by 2030
After a record year in 2022 coming off a fresh brand overhaul, Kia looks to keep the momentum rolling. The South Korean automaker revealed its “Plan S” strategy in 2020, designed to transition the company to an EV-focused brand and boost sales.
In fact, Kia has completely transformed its brand, including changing the company name (from Kia Motors to Kia) and introducing a new logo.
Last May, Kia unveiled its first dedicated fully-electric vehicle, the high-flying EV6 crossover, based on Hyundai’s E-GMP platform, the same one the IONIQ 5 and IONIQ 6 models ride on.
The company established its “opposites united” design approach, which has been its guiding philosophy for the new EVs like the flagship EV9, Kia’s first seven-seat SUV, and the smaller upcoming EV5 electric SUV.
Kia’s CEO, Ho Sung Song, announced today that the automaker will accelerate its efforts to become an “EV tier 1 brand.” To do so, Kia has developed four pillars:
- Introduce a full EV lineup including 15 models as of 2027.
- Increase EV sales goal to 1.6 million by 2030, up 400,000 from the previous 1.2 million guidance.
- Advance battery technology from Gen 3 to Gen 5 (which Kia says will increase energy density by 50%) and secure a stable battery supply chain.
- Install 3,500 ultra-fast chargers in Korea by 2025 while partnering globally to expand charging infrastructure.
As an interim target, Kia is aiming to sell over 1 million electric vehicles by 2026, representing a 25% increase from its previous plans. The South Korean automaker has its first dedicated EV plant opening in 2024 in Gwangmyeong, South Korea, where two new EV models will be built.
Kia’s first target will be selling 258,000 electric vehicles by the end of the year as it works to establish its position in the new EV era.
Electrek’s Take
Although Kia adjusting its EV sales goal higher is great, it still only represents 37% of the automaker’s total sales target for 2030.
Several automakers are already selling double-digit (or 100%) EV sales by now, while other legacy automakers like Ford, GM, and Stellantis are aiming for 40% to 50% by the end of the decade, which is low in itself.
Tesla sold 1.2 million zero-emission EVs alone in 2022, and another record first quarter with over 422,000 deliveries.
Earlier this year, Polestar’s head of sustainability, Fredrika Klarén, called out legacy automakers, saying there is no place for mass-produced non-EV models after 2030.
Klarén said Polestar is basing its assessments on a science-based approach, and anyone claiming they will fix it by 2040 or 2050 is not listening, because we will have already missed our goal, going on to explain:
We only have seven years left until we hit 1.5 degrees global warming. That’s a fact if we continue on the route we’re heading into. So, anything after 2030, we’re not interested.
We don’t have time to wait until after 2030, especially not with only 37% EV sales. More needs to be done including ending ICE vehicle production.
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![This electric excavator has battery swap tech that lets it recharge in minutes [update]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/04/electric-excavator.jpg?resize=1200,628&quality=82&strip=all&ssl=1)
The electric construction equipment experts at XCMG just released a new, 25 ton electric crawler excavator ahead of bauma 2025 – and they have their eye on the global urban construction, mine operations, and logistical material handling markets.
UPDATE: telematics announcement.
Powered by a high-capacity 400 kWh lithium iron phosphate battery capable of delivering up to 8 hours of continuous operation, the XE215EV electric excavator promises uninterrupted operation at a lower cost of ownership and with even less downtime than its diesel counterparts.
XCMG is delivering on part of that reduced downtime promise with the lower maintenance and easier repair needs of electric equipment, and delivering on the rest of it with lickety-quick DC fast charging that can recharge the machine’s massive battery in 1.5-2 hours … but that’s not the slick bit. The XCMG XE125EV can be powered up without leaving the job site thanks to its BYD battery swap technology.
We first covered XCMG and its battery swap technology back in January, and covered similar battery-swap tech being developed by MOOG Construction offshoot ZQUIP, as well – but while XCMG’s battery tech has been in production for several years, it’s still not widely known about in the West (even within the industry).
XCMG showed off its latest electric equipment at the December 2024 bauma China, including an updated version of its of its 85-ton autonomous electric mining truck that features a fully cab-less design – meaning there isn’t even a place for an operator to sit, let alone operate. And that’s too bad, because what operator wouldn’t want to experience an electric truck putting down 1070 hp more than 16,000 lb-ft of torque!?
Easy in, easy out
The best part? All of the company’s heavy equipment assets – from excavators to terminal tractors to dump trucks and wheel loaders – all use the same 400 kWh BYD battery packs, Milwaukee tool style. That means an equipment fleet can utilize x number of vehicles with a fraction of the total battery capacity and material needs of other asset brands. That’s not just a smart use of limited materials, it’s a smarter use of energy.
You can check out all the XE215EV’s specs at this tear sheet, and get an in-person look at the Chinese company’s latest electric excavator this week in Munich, Germany.
Telematics announcement at bauma
Earlier today, XCMG launched its next-generation Xrea Global Telematics Platform, integrating IoT, big data, cloud computing, and AI to enable what it’s caling, “seamless cross-border fleet management.”
The new telematics platform supports a dozen languages via PC and mobile interfaces, and offers real-time diagnostics, predictive maintenance, and data-driven optimization of both the vehicle and the vehicle’s batteries, empowering equipment managers and fleet operators to track fleets across town, or across time zones.
“XCMG remains committed to advancing engineering technology to empower a sustainable future. Our mission is to deliver efficient, intelligent, and eco-friendly lifecycle solutions for global clients,” said Mr. Yang Dongsheng, Chairman of XCMG Group and XCMG Machinery. “Today, 19% of our product portfolio comprises green innovations under our ‘Green Mountain’ new energy line, with full electrification across all series underway.”
SOURCE | IMAGES: XCMG; via PR Newswire.
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![A vast 600 MW Texas solar farm just hit a major milestone [update]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/01/Hornet-Solar-Texas-2.jpg?resize=1200,628&quality=82&strip=all&ssl=1)
Renewable developer Vesper Energy has cut the ribbon on Hornet Solar in Swisher County, Texas, one of the largest single-phase solar farms in the US.
As Electrek reported in January, the 600-megawatt (MW) Hornet Solar includes over 1.36 million modules covering more than 6 square miles. The project will contribute more than $100 million in new tax revenue to Swisher County and deliver 600 MWac of energy–enough to power 160,000 homes annually.
January 30, 2025: “The seamless coordination between our team and our EPC partner, Blattner, has enabled us to remain ahead of schedule and on budget while ensuring quality throughout the process,” said Juan Suarez, co-CEO of Irving-based Vesper Energy.
Hornet Solar uses bifacial solar panels mounted on a single-axis tracking system to maximize efficiency. The solar farm is connected to Oncor Electric’s transmission system within ERCOT and is contracted to provide power to four off-take partners through individual Virtual Power Purchase Agreements (VPPAs).
The Hornet Solar project in the Texas Panhandle is on track to be fully online by spring 2025.
Texas is a utility-scale solar leader in the US, with a ranking of No. 2 and 37,713 MW currently installed. It’s projected to install 51,144 MW over the next five years and move into the No. 1 spot, according to the Solar Energy Industries Association (SEIA). The total solar investment in the state is $45.2 billion.
On January 21, the SEIA, Conservative Texans for Energy Innovation (CTEI), Advanced Power Alliance (APA), and the Texas Solar + Storage Association (TSSA) reported that existing and expected utility-scale solar, wind, and battery storage projects will contribute over $20 billion in total tax revenue – and pay Texas landowners $29.5 billion – over the projects’ lifetimes.
Read more: Texas just became No 1 in the US for most utility-scale solar
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