The investment, disclosed during the company’s annual CEO Investor Day, represents a 10 percent increase over Kia’s previous five-year plan and is aimed at boosting annual production capacity to 4.25 million vehicles by 2030. The figure averages 8.4 trillion won per year.
As part of its strategy, Kia said it will enter the highly competitive North American pickup truck market — long dominated by U.S. manufacturers — with a self-developed, mid-sized electric pickup. The company aims to sell 90,000 units of the new model annually by 2034.
While demand for internal combustion engine pickups remains strong in emerging markets, including for Kia’s Tasman model, CEO Song Ho-sung emphasized that North America is expected to lead growth in electric pickup demand. “We see the region as a key driver in the next wave of EV adoption,” Song said.
The announcement comes on the heels of Hyundai Motor Group’s pledge last month to invest $21 billion in the United States, signaling an aggressive global push by the automotive conglomerate, which includes both Hyundai and Kia brands.
Kia also laid out plans to increase domestic production by 13 percent, reaching 1.78 million vehicles annually by 2030, and raise overseas production by 20 percent to 2.47 million vehicles.
The company said approximately 40 percent of output at Hyundai Motor Group Metaplant America — a forthcoming Georgia-based facility with a planned capacity of 500,000 vehicles — will be dedicated to Kia-branded models.
reporter
Kim Dong-young
davekim0807@ajupress.com
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