South Korea's Kia cuts 2030 EV target over 20%, plans humanoid robots at U.S. factory

Kia cut its 2030 EV sales target to 1.0 million, down ~20% from the prior 1.26 million target. Management cited weaker EV demand and the U.S. removal of EV subsidies as drivers of the reduction, a negative signal for Kia's EV growth trajectory and potential headwinds for related supplier volumes and revenue.

Analysis

Kia cut its 2030 EV sales target to 1.0 million, down ~20% from the prior 1.26 million target. Management cited weaker EV demand and the U.S. removal of EV subsidies as drivers of the reduction, a negative signal for Kia's EV growth trajectory and potential headwinds for related supplier volumes and revenue.