South Korean car company Kia aims to sell more electric vehicles in Europe, as US President Donald Trump's car tariffs and anti-electric vehicle policies overshadow sales prospects in the US. This is reported by UNN with reference to Bloomberg.
Details
Kia CEO Ho Sung Song said that due to tariffs imposed by US President Donald Trump, the company is seeking to increase electric vehicle sales in Europe. The South Korean automaker plans to increase electric vehicle sales in the European Union to more than 60% of the total in the region by 2030: exceeding the industry forecast of 54%.
At the same time, Kia plans to increase annual sales in the US to about 1.2 million vehicles by about 2033. For comparison, up to 800,000 cars were sold in the US in 2024.
When asked if Kia plans to raise prices in the US to offset losses from tariffs, Ho Sung Song declined to answer. He also did not say whether affiliate Hyundai would return to Russia after the end of the war in Ukraine.
Addition
Chinese authorities are preparing to take countermeasures in response to tariffs from the United States on foreign goods, including those manufactured in China.