April 16, 2024

Kia Backtracks On EVs, To Offer More Hybrids


Amidst the uncertain demand for battery electric vehicles, Kia is shifting its efforts and ramping up its hybrid vehicle offerings.

The Korean automaker will build its portfolio of gasoline-electric hybrid offerings to nine models in 2028, from six in 2024, and add hybrid options on most of its major nameplates. Kia said the roadmap enables Kia to “proactively respond” to “changes in EV market.”

Although the long-term EV demand for 2030 is expected to remain unchanged, the pace of demand growth may be uneven in the near term.

As a response, Kia will have to add flexibility to its line-up and will therefore have to enhance its hybrid offering to manage the seen fluctuation in EV demand.

Kia is keeping its 2030 sales top-line goals unchanged at total global volume of 4.3 million units, with pure EVs account for about 1.6 million vehicles of that total. However, Song slightly upped the long-term hybrid mix with the new goal selling 2.48 million full electric and hybrid vehicles in 2030—that’s up from the initial target of 2.38 million set last year. Under the new target, electrified vehicles, including plug-in and standard hybrids, would account for about 58 percent of 2030 sales.

Kia said it would expand its hybrid lineup to six models in 2024, eight in 2026 and nine in 2028.

Still, Song reiterated his company’s commitment to EVs in the long term.

On tap is a global range of new EVs, including the EV2, EV3, EV4, and EV5. Kia plans to launch six EV models by 2026 starting with the EV3 and EV5.

The company will also start producing EVs and internal combustion vehicles at 13 factories worldwide, Song said. Six of those plants will be overseas.

10 comments:

  1. So toyota has been right all along

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    1. yes fully agree!

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    2. good decision Kia! chinese brands will dominate the EV market as they are the largest producer of cheap and efficient batteries. hybrid is the best option!

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    3. Toyota's sales has been declining by 9% in 2024, including 33% in Japan.

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  2. With the cost of batteries for electric cars ranging from 33% to 57% of the total car cost and with an expected battery life span of just about 150k kms or about 10 years; the range anxiety inherent in electric cars made worse by the reality that most electric cars can only manage a little over half of their advertised range; and the fact that lithium batteries can become obsolete with the advent of solid state batteries and the arrival of more efficient hydrogen powered combustion engines; and that electric vehicles have low resale values; buying an electric car at twice the cost of ICE cars is simply impractical and not cost effective. Ford's F150 lightnings are not selling and most EV carmakers knows and feels the downward trend of EV's and are now backtracking just as Kia did.

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  3. The EV bubble has popped. I think the future will be EVs and ICE coexisting.

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  4. Now Toyota is leading the way again, with hybrids and plug-in hybrids.

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    1. Toyota's global sales has been declining globally in 2024. ICE and hybrid is a dead end.

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    2. As before, toyota would still has the last laugh

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  5. Non-competitive carmaker brands are trying their best to promote EVs so they can get a bigger market share than what they are currently getting. Fact is traditional ICE cars are more practical and cost effective. The EV's also have bigger carbon footprints to manufacture and are more damaging to the environment, studies show.

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