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Kia will add more hybrid cars to its ranks over the coming years in response to faltering global uptake of pure-electric vehicles.
In a bid “to manage fluctuation in EV demand”, and to cater for a forecasted increase in sales of electrified combustion cars, Kia will launch a total of nine hybrid models by 2028, “across most major model lines globally”.
It did not say which model lines, specifically, will be hybridised, nor did it say whether this figure includes both full and plug-in hybrids.
The brand’s objective of selling 1.6 million electric cars annually by 2030 is unchanged, it said at its annual investor conference yesterday, but it acknowledges that pure-EV sales growth is “slowing due to economic downturn, subsidy cuts and lack of charging infrastructure”.
In light of that, Kia forecasts that hybrids will make up 20% of its global sales in 2030 – up from an estimated 14% in 2024. Its proportion of pure-electric vehicle sales will rise from 10% to 38% over the same period, it estimates.
Overall, electrified vehicles are estimated to account for 58% – or roughly 2.48 million units – of Kia’s global sales by 2030.
However, those percentages vary significantly according to different regions; in the US and Canada, for example, Kia forecasts that 35% of its sales will be hybrids in 2030, while that figure will be just 12% in the EU.
In Kia’s home market of Korea, hybrids are expected to be the best-selling form of powertrain at the end of the decade, taking 43% of the brand’s sales, compared to 41% for electric vehicles and just 16% for pure-ICE.
Hybrids currently account for just 1% of Kia’s Chinese sales, and it will stop selling them there completely by 2030, leaving it with a 53:47 sales split between EVs and pure-combustion cars.
The brand has also pledged to develop a new generation of hybrid powertrain with “enhanced power and fuel efficiency” in a bid to “diversify” its product offering.
There will be two versions of this new powertrain: one for ‘subcompact and mid-sized’ hybrids, and another for large vehicles.
“To ensure cost competitiveness and production flexibility”, Kia says it will build the new hybrid powertrains alongside its existing combustion engines.
Ho Sung Song, Kia President and CEO, said: “Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider.
“By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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