Kia increases investment in Siasun Robot & Automation and software, lowers electric car targets.

According to an investor report released on Thursday, South Korean automaker Kia Corp. plans to increase its investment plan by 30% over the next four years to drive the development of electric cars, software, and other emerging businesses. The company stated that it plans to increase its total investment amount to 41.4 trillion Korean won (approximately 27.95 billion U.S. dollars) between 2026 and 2029. The report also showed that Kia has lowered its target for electric car sales in 2030 by about 20% to 1 million units. This reflects weak market demand and the impact of the United States canceling electric vehicle subsidy policies last year. In response to this news, Kia's stock price reversed from an increase to a decrease during trading hours, ultimately closing down by 5.46%. Kia also announced that it plans to launch its "Software Defined Vehicle" (SDV) test version by the end of 2027, a year later than originally planned. Hyundai Motor Group had previously heavily promoted such SDV models that can continuously upgrade functionality and performance like Tesla, Inc. (TSLA.US). Furthermore, Kia plans to introduce a model equipped with semi-autonomous driving technology by early 2029, suitable for highway and city driving; and subsequently launch a fully autonomous self-driving taxi model in 2030. Kia and its sister company Hyundai Motor also jointly announced that they will deploy the Atlas humanoid robot developed by Boston Dynamics and Siasun Robot & Automation. Kia plans to be the first to implement this technology at a factory in Georgia, USA starting in 2029. Hyundai Motor, on the other hand, plans to apply the Siasun Robot & Automation in its new factory in Savannah, Georgia, starting in 2028; and has stated that the goal is to establish a Siasun Robot & Automation manufacturing factory with an annual capacity of up to 30,000 units by that time.