Kia President Song Ho-sung noted that although the electric vehicle market is currently contracting, the company will continue to focus on expanding its lineup and strengthening its electrification competitiveness. He expressed confidence in surpassing competitors such as the Chinese electric vehicle manufacturer BYD through various products.
After the '2025 Kia EV Day' held on the 24th (local time) in Tarragona, Spain, President Song said during a press conference that, considering various factors such as global warming, "the trend is ultimately moving toward electric vehicles," and added, "We will continue the preparations and investments we've made so far."
In recent years, the chasm of electric vehicles has persisted, causing the global electric vehicle market to grow more slowly than initially expected. Additionally, the prediction is that the electric vehicle market will contract further due to the second administration of former U.S. President Donald Trump reducing support and benefits for electric vehicles.
President Song stated, "It is a clear fact that the demand forecast for electric vehicles is slightly delayed compared to a few years ago." However, he emphasized, "The forecast for electric vehicle sales by 2030 is still 29 million units, which indicates a significant market," adding that "although the speed may be delayed by 2 to 3 years, the direction is undoubtedly correct."
Kia explained that most of its factories currently have a mixed production system capable of producing both internal combustion engine vehicles and electric vehicles, allowing for flexible responses according to market conditions.
Kia also announced plans to expand its market share in Europe, led by its newly introduced electric vehicles. At this EV Day, Kia unveiled its first electric sedan, the EV4. Additionally, it presented the first model of purpose-built vehicles, the PV5.
President Song mentioned, "We plan to sell 80,000 units of the EV4 annually in Europe," adding that, "The compact electric sports utility vehicle, the EV2, which will be launched soon, aims for annual sales of 100,000 units."
Regarding PBVs, he expressed hope that they would become new game changers in the commercial vehicle market. While the passenger electric vehicle market has faced difficulties due to a decrease in purchases by individual customers, commercial vehicles must comply with the government's carbon emission reduction requirements, leading to increased electric vehicle purchases and higher growth potential. President Song noted, "The sales target for PBVs by 2030 is 250,000 units, with plans to sell about 130,000 of those in Europe."
President Song expressed optimism that through successive new car launches, Kia could adequately secure an advantage in competition with BYD. BYD has recently increased its market share in Europe, Southeast Asia, and Central and South America and has entered the domestic market this year.
He stated, "In Spain, for instance, BYD primarily enters the rental car market with low prices, while Kia's new models like the EV3 are selling very well." He added, "Once the EV4 and EV2 are introduced, our market share is expected to increase significantly."
Regarding the domestic market, he said, "BYD is expected to mainly sell its small SUV Atto 3 in the rental market, but we are not too worried because the EV4 will be released soon after the EV3."