Two of the major automakers have made the decision to up their EV production goals for 2030 as the EV space continues to grow.
Kia, which is a subsidiary of Hyundai, announced they were boosting EV production targets to reach 1.6 million vehicles. The company will invest an additional $18 billion to realise these targets. For Kia, the goal is to have EVs make up 40 per cent of its total sales volume by 2030. The company estimates that EVs will make up 9 per cent of its total sales volume by the end of 2023.
On the other side, Honda revealed details on its planned increase in EV production. The company is planning to produce more than 2 million units by 2030. To make this happen, Honda is partnering with General Motors to produce two models in 2025 for the North American audience. While in China and Japan, the company is launching several smaller models. As Honda tries to play catch-up, the company is on its way to developing its own E&E architecture and solid-state batteries.
However, the question for many is that if Kia and Honda can transition their ice engine success in North America and Europe to EVs. They are a little late to the game, especially Honda, but if done right, they can deliver a vehicle that could take on any EV.
