South Korea's Kia slashes long-term EV target by a fifth

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SEOUL, April 9 : South Korea's Kia Corp on Thursday cut its 2030 target for electric vehicle sales by about 20 per cent to 1 million, reflecting weaker demand and the scrapping of EV subsidies in the U.S. last year.

Shares in the automaker slid, trading down 4.2 per cent after earlier having risen as much as 2.5 per cent.

Updating long-term business plans in a presentation to investors, Kia also trimmed its 2030 overall vehicle sales goal to 4.13 million from 4.19 million units.

Kia joined sister firm Hyundai Motor in unveiling plans to deploy Atlas humanoid robots developed by Boston Dynamics. It will use them at its Georgia factory from 2029.

Hyundai plans to use the robots at a new plant in Savannah, Georgia from 2028 and has said it aims to build a factory capable of manufacturing 30,000 robots annually by that time.

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