As rivals like Ford and Toyota are pulling back major electric vehicle initiatives, Kia is plowing ahead as it looks to secure a leadership role. Kia is standing by its EV sales goal of 1.6 million models by 2030. With new low-cost EVs like the EV3 rolling out, Kia is already seeing strong demand.
Kia says 1.6 million EV sales goal for 2030 is still intact
Coming off back-to-back record global sales the past two years, Kia expects the momentum to continue.
However, “some difficulties” are expected in the short term. The Korean automaker sees shifting government policies and new tariffs on EV imports in the US and EU as potential headwinds this year and into 2025.
Despite this, Kia is sticking to its long-term sales goal of selling 1.6 million EV models in 2030. Kevin Ahn, CEO of Kia Asia Pacific, said at an event on Wednesday (via Reuters), “We’re not pushing volume to market. Especially this year, the market is changing very rapidly and there are so many uncertainties.”
“But our long term target is for 2030, 1.6 million EVs,” Ahn added. Kia expects “some chasms” on the way, but the goal is within reach.
Kia EV6 (Source: Kia)
Like most automakers, Kia is bracing for the impacts of the US election. “Recently, the U.S. has finished their election, and there are big changes and expectations,” Ahn said it was too early to discuss the matter but added the company still plans to assemble EVs in the US at its West Point, GA, plant.
Kia EV9 production begins in Georgia (Source: Kia)
New electric models en route
In May, Kia’s first three-row electric EV9 SUV rolled off the assembly line, a major milestone as the first EV built in Georgia.
The EV9 has helped push Kia to what looks like another record sales year in the US. With another 1,941 models sold in the US last month, Kia EV9 sales reached nearly 18,000 through the first ten months of the year.
2024 Kia EV9 GT-Line (Source: Kia)
Kia calls the EV9’s sub-$55,000 starting price tag a “wake-up call” for the industry. Meanwhile, even more affordable Kia EV models are on the way.
2025 Kia EV9 Trim
Starting Price*
Light Standard Range
$54,900
Light Long Range
$59,900
Wind
$63,900
Land
$69,900
GT-Line
$73,900
2025 Kia EV9 price by trim (*excluding $1,325 destination fee)
As part of its “EV for all strategy,” Kia is launching a series of low-cost models. The EV3, Kia’s compact electric SUV, is already generating strong demand in Korea. The company has called it a potential “game changer” in its home market.
The EV3 starts at just $30,700 (KRW 42.08 million) in Korea with up to 375 miles (605 km) driving range. With incentives, the electric SUV can be bought for under $30,000 (KRW 39.95 million).
Kia EV3 (Source: Kia)
Kia just launched the EV3 in Europe with “segment-leading range” of up to 375 miles (WLTP). Prices in Europe start at around 36,000 euros ($38,300). The electric SUV has been on sale in the UK since August, starting at £32,995 ($42,500).
Kia EV4 (back) showcased alongside EV9 (left) EV3 (middle), and EV5 (right) (Source: Kia)
Next year, Kia is launching the EV4, its take on an entry-level electric sedan. Despite its four-door design, Kia claims the EV4 is “an entirely new type of EV sedan.”
Its low-riding, wide stance gives off a sports car-like feel. It’s expected to start at around $35,000 to $40,000. Ahead of its debut, the EV4 was spotted in hatchback form on US streets for the first time last week.
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US President Donald Trump speaks to reporters about the Israel-Iran conflict, aboard Air Force One on June 24, 2025, while traveling to attend the NATO’s Heads of State and Government summit in The Hague in the Netherlands.
Brendan Smialowski | Afp | Getty Images
The ceasefire between Israel and Iran appears to be holding. In yesterday’s newsletter, we talked about how a blitzkrieg of missile-led diplomacy seemed to help de-escalate tensions.
The flipside of that strange path to a truce is that missiles, well, are fundamentally weapons. Mere hours after both countries agreed to the ceasefire, Israel said its longtime rival had fired missiles into its borders — an accusation which Tehran denied — and was preparing to “respond forcefully.” Probably with more missiles.
U.S. President Donald Trump — who reportedly brokered the ceasefire with Qatar’s Emir Sheikh Tamim bin Hamad Al Thani — expressed frustration with those developments.
“I’m not happy with them. I’m not happy with Iran either but I’m really unhappy if Israel is going out this morning,” Trump told a reporter pool en route to the NATO summit in the Netherlands.
His admonishments seemed to work. There is now a fragile armistice between the two countries.
Oil prices fell and U.S. stocks jumped.
Reuters uploaded a photo of Israeli residents playing frisbee at the beach on June 24. Flights at Israel’s Ben Gurion Airport are resuming, and Iran’s airspace is partially open, according to flight monitoring firm FlightRadar24, CNBC reported at around 3 a.m. Singapore time.
Three hours after that update, NBC News, citing three people familiar with the matter, reported that an initial assessment from the U.S. Defense Intelligence Agency found the American strikes on Iran’s nuclear sites on Saturdayleft “core pieces … still intact.”
And so it goes.
What you need to know today
Israel-Iran ceasefire holds, for now The fragile ceasefire between Israel and Iran, announced by Trump on Monday, appears to be holding. Israel on Tuesday said it would honor the ceasefire so long as Iran does the same. Earlier in the day, both countries accused each other of violating the truce, and said they were ready to retaliate, prompting Trump to say he’s “not happy” with them. Stay updated on the Israel-Iran conflict with CNBC’s live blog here.
Oil prices slump for a second day Oil prices tumbled Tuesday, its second day of declines, as the market betthat the risk of a major supply disruption had faded. U.S. crude oil settled down 6% at $64.37 a barrel while the global benchmark Brent fell 6.1%, to $67.14 during U.S. trading. Prices closed 7% lower on Monday. Earlier Tuesday, Trump said China can keep buying oil from Iran, in what seemed like a sign that the U.S. may soften its pressure campaign against Tehran.
Powell says Fed is ‘well positioned to wait’ At a U.S. congressional hearing Tuesday, Federal Reserve Chair Jerome Powell said the economy was still strong. But he noted that inflation is still above the central bank’s target of 2%, and the Fed has an “obligation” to prevent tariffs from becoming “an ongoing inflation problem.” In combination, those considerationsmake the Fed “well positioned to wait” before making a decision on interest rates.
U.S. is committed to NATO: Secretary-General There is “total commitment by the U.S. president and the U.S. senior leadership to NATO,” the military alliance’s Secretary-General Mark Rutte said Tuesday morning, as the summit kicked off in The Hague, Netherlands. But America expects Europe and Canada to spend as much as the U.S. does on defense. Ahead of the summit, members agreed to increase defense spending to 5% of gross domestic product by 2035.
[PRO] Not ‘bullish enough’ on rally: HSBC The S&P 500′s rally off its April lows has brought it back to roughly 1% off its record high in a very short time. It’s an advance that has perplexed many investors, who worry that another pullback is on the horizon. But Max Kettner, chief multi-asset strategist at HSBC, said he worries he’s not “bullish enough” on the current rally.
And finally…
Pictures from the semi-official Tasnim news agency show the Stena Impero being seized and detained between July 19 and July 21, 2019 near strait of Hormuz, Iran.
According to Angeliki Frangou, a fourth-generation shipowner and chairman and CEO of Greece-based Navios Maritime Partners, which owns and operates dry cargo ships and tankers, vessels in the Strait of Hormuz are still being threatened by continuous GPS signal blocking.
“We have had about 20% less passage of vessels through the Strait of Hormuz, and vessels are waiting outside,” Frangou told CNBC.
“You are hearing a lot from the liner [ocean shipping] companies that they are transiting only during daytime because of the jamming of GPS signals of vessels. They don’t want to pass during the nighttime because they find it dangerous. So it’s a very fluid situation,” Frangou said.
Mercedes-Benz is sending nearly 5,000 electric vans to Amazon’s European delivery partners in its biggest EV handoff to date. The fleet will hit the streets in five countries in the coming months.
Three-quarters of the fleet are Mercedes’ larger eSprinter vans, while the rest are the more compact eVito panel vans. More than 2,500 are going to Germany, and Amazon says this new EV fleet will help deliver more than 200 million parcels a year across Europe.
This is the biggest EV order Mercedes-Benz Vans has ever received. It builds on a partnership that started in 2020, when Amazon first added more than 1,800 electric vans from Mercedes to its delivery network.
“We’re further intensifying our long-standing relationship with Amazon and working together toward an all-electric future of transport,” said Sagree Sardien, head of sales & marketing at Mercedes-Benz Vans. “Our eVito and eSprinter are perfectly tailored to meet the demands of our commercial customers regarding efficiency and range.”
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In 2020, Mercedes-Benz joined Amazon’s Climate Pledge, a commitment Amazon co-founded with Global Optimism to reach net zero by 2040.
Both the eSprinter and eVito are designed with delivery drivers in mind. With batteries tucked into the underbody, the vans offer unrestricted cargo space. Both come standard with the MBUX multimedia system, which supports the integration of automatic charging stops and Mercedes’ public charging network via navigation.
Safety and comfort got upgrades, too. New driver assistance features come standard, and the Amazon vans are customized with shelves and a sliding door between the cabin and cargo area for easy parcel access.
The eVito vans, which were built at Mercedes’ plant in Vitoria, Spain, are ideal for last-mile urban deliveries. They come in 60 kWh or 90 kWh battery options, with peak motor outputs of either 85 kW or 150 kW, and can travel up to 480 km (298 miles) on a full charge.
Meanwhile, the eSprinter is the all-rounder for range and loading volume. Built in Düsseldorf, it comes in two lengths and three battery sizes, with a range of up to 484 km (300 miles). It boasts up to 14 cubic meters of cargo space and can handle a gross weight of up to 4.25 tonnes.
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It already outsold Tesla in the UK and Europe, but this could be just the start. BYD said it’s launching new vehicles, including EVs, faster than any carmaker in Europe has done so far.
BYD goes all in on Europe with new EVs, PHEVs
BYD took the spotlight earlier this month after launching its most affordable EV in Europe so far. The Dolphin Surf, a rebadged version of the Seagull EV sold in China, starts at just £18,650 (just over $25,000) in the UK.
At a UK launch event, Alfredo Altavilla, BYD’s special advisor for Europe, said (via Autocar) the “Dolphin Surf was the missing piece in the A/B-segment.”
It will compete with entry-level EVs, such as the Dacia Spring, the UK’s cheapest EV, which starts at £14,995 ($20,000).
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Yet, the low-cost Dolphin Surf is only one piece of BYD’s master plan. “We have been launching six cars in less than a year,” Altavilla explained, adding, “We are covering all of the most important segments of the European car market.”
BYD Dolphin Surf EV for Europe (Source: BYD)
Altavilla even boasted that, “I have zero problem in saying I don’t think there has ever been such a product offensive done in Europe as the one BYD is doing.”
Although BYD is best known for its low-cost EVs, like the Seagull, which starts under $10,000 in China, the auto giant is quickly expanding into new segments.
BYD Denza Z9 GT (Source: Denza)
BYD sells luxury vehicles under the Denza Yangwang brands. Denza is BYD’s answer to Porsche and other German luxury brands. Meanwhile, Yangwang is an ultra-luxury brand that will serve as BYD’s tech beacon.
According to Altavilla, this could be just the start. “We’re going to get together again after the summer break for another important reveal, and through the end of the year, there will be others,” BYD’s special advisor for Europe said.
BYD “Xi’an” car carrier loading EVs and PHEVs for Europe (Source: BYD)
BYD is set to begin production at its new plant in Hungary by the end of the year, enabling the company to customize vehicles for buyers in the region.
“As we go forward into 2026, more and more of the BYD line-up will be specific to this region,” Altavilla explained.
In separate news, BYD announced on Monday that its “Xi’an” car carrier is loaded and ready to ship off to the UK, Italy, Spain, Belgium, and other countries, carrying about 7,000 EVs and PHEVs.
Electrek’s Take
In what was called a “watershed moment,” BYD registered more vehicles in Europe than Tesla for the first time in April.
It also had more vehicle registrations in the UK than Tesla last month, with the Seal U taking the top spot for the most popular plug-in hybrid.
With the Dolphin Surf arriving, local production set to come online later this year, and several new models on the way, BYD is laying the groundwork to capture its share of the European auto market.
According to S&P Global Mobility forecasts, BYD is expected to more than double its sales in Europe this year, with around 186,000 vehicles sold. By 2029, BYD’s sales could double again to around 400,000. Between its plants in Hungary and Turkey, China’s EV leader is expected to have a combined capacity of 500,000 units.
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