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Kia sees near-term market challenges but sticks to 1.6 mln annual EV sales target by 2030
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Kia sees near-term market challenges but sticks to 1.6 mln annual EV sales target by 2030
Nov 15, 2024 1:04 PM

TAIPEI, Nov 14 (Reuters) - South Korean car maker Kia

expects challenging market conditions in the near

term due in part to governments' policies but will stick to its

target of selling 1.6 million electric vehicles annually by

2030, a senior executive said.

"We're not pushing volume to market. Especially this year,

the market is changing very rapidly and there are so many

uncertainties," Kevin Ahn, president and CEO of Kia Asia

Pacific, said at an event in Taipei on Wednesday to showcase the

automaker's EV lineup.

"But our long term target is for 2030, 1.6 million EVs," he

said. "On the way there, there will be some chasms, there will

be some difficulties, some volumes going down because of the

market conditions and government policies."

Kia is an affiliate of compatriot Hyundai Motor ( HYMTF ).

Ahn declined to comment on the impact on the overall market

from import tariffs of up to 45% imposed by the European Union

on Chinese-made EVs, or from the election of Donald Trump as

U.S. president.

"Recently the U.S. has finished their election and there are

big changes, expectations. So it's too early to discuss those

kinds of issues," Ahn said, adding Kia plans to assemble EVs at

its plant in the U.S. state of Georgia.

Automakers are bracing for President-elect Trump to impose

new tariffs on vehicles from Mexico and potentially from other

countries and to reverse many existing EV-friendly policies.

Kia started making EVs in China this year and plans to make

small EVs in Europe too, Ahn said.

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