Kia Corp said on April 9 it will invest 42 trillion won ($30.6 billion) over five years to develop next-generation electric and software-defined vehicles (SDVs), as it accelerates its push into the U.S. pickup truck market and expands global production.
The investment, revealed during its annual CEO Investor Day, represents a 10% increase from its previous five-year plan and averages 8.4 trillion won per year.
A key highlight was Kia’s first official confirmation that it will enter the U.S. pickup truck segment—a market long dominated by America’s “Big Three” automakers. The company said it plans to launch a self-developed mid-size electric pickup in North America and aims to sell 90,000 units annually by 2034.
Pickup trucks make up roughly 20% of total U.S. auto sales, with Ford and General Motors accounting for four of the top five best-selling models.
Just weeks earlier, Hyundai Motor Group—Kia’s parent company—announced a $21 billion investment in the U.S., underscoring the group’s aggressive global expansion strategy.
While Kia dismissed speculation about a potential pickup truck partnership with GM, some industry watchers say collaboration could still be on the table—ranging from joint parts procurement to rebadging Hyundai pickups under a GM brand for the U.S. market. In September, Hyundai and GM announced plans to explore technology cooperation in several areas.
Kia also laid out plans to increase production capacity at home and abroad. By 2030, it aims to manufacture 1.78 million vehicles annually in South Korea and 2.47 million units overseas—up 13% and 20%, respectively, from current levels.
As part of this expansion, Kia will occupy 40% of production capacity at Hyundai Motor Group’s new Metaplant America in Georgia, which will have an annual output of 500,000 vehicles once it begins operations.
