---
endpoint: analytics
pattern: Autos
status: done
latency_ms: 144486
conversation_id: 43f77c19-4985-4623-83f1-5305d0303aa7
citations: 6
created: 2026-05-31 19:21:26Z
---

# Who are the key customers and suppliers of Kia?

# Kia (KS:000270) — Key Customers and Suppliers

For an OEM like Kia, "customers" splits naturally into (a) retail / fleet end-buyers and B2B platform partners, and (b) regional dealer / distribution channels. "Suppliers" splits into (a) Hyundai Motor Group (HMG) affiliated Tier‑1s — the dominant block — and (b) external Korean and global parts suppliers tracked by CLSA's Korea Auto-parts coverage. Below is a synthesis of (i) Kia's DART filings, (ii) Kia's 2025 CEO Investor Day disclosures, and (iii) CLSA's Korea Autos / Korea Auto-parts coverage.

---

## 1. Key Customers

### A. Retail / regional channels
Kia's largest revenue contributions come from regional retail markets. Its 2025 CEO Investor Day shows explicit regional plans, with **India** (300k unit wholesale target, 6.9% market-share target) and **China** (81k unit wholesale target) called out as key growth/recovery markets, with strategies built around enhancing **"key dealers' marketing capability and customer retention"** and improving **"supplier parts quality"** for global exports [5]. The US (Kia America), Europe, and Korea remain the largest profit pools historically, supported by Kia's regional distribution subsidiaries (Kia America, Kia Europe, Kia MEA, Kia CSA, Kia APAC).

### B. B2B / Purpose-Built Vehicle (PBV) customers
Kia's PBV business — a new commercial-vehicle platform (PV5/PV7/PV1) — has identified explicit B2B customer/partner anchors. From the Kia CES special call:

- **Uber** — Kia announced a **"major global partnership"** with Uber at CES, positioning PV-series PBVs for ride-hail / mobility fleet deployment [2].
- **Coupang and CJ Logistics** — Kia has **"signed MOUs with Coupang and CJ Logistics in the delivery domain"**, anchoring PBVs into Korea's largest e-commerce and last-mile logistics flows [2].
- A **PBV-Dedicated Channel** with dedicated dealerships in Europe and a **"PBV-Dedicated Website"** offering **"tailored contents for B2B customer by business type, solution, and service"** [6] — i.e., fleet/logistics customers segmented by use case.

### C. Robotics / advanced-mobility customer ecosystem
Kia explicitly frames PBVs as a platform for partner-served verticals:
- **Boston Dynamics** (HMG-owned) — Spot and Atlas robots deployed for **"manufacturing innovation at Kia plants"** and last-mile **"robotics-integrated solutions for PBV customers, including logistics"** [3].
- **Supernal** (HMG's AAM subsidiary) — Kia is building **"ground-UAM multimodal services"** with PBV limousine models tying into Supernal's air-taxi customers, including operators like Clay Lacy and Blade.

---

## 2. Key Suppliers

### A. Hyundai Motor Group affiliated Tier‑1s (related-party suppliers)
Kia's DART-filed related-party disclosures identify HMG affiliates as the structural backbone of its supply base. The Q4 2023 annual report lists the following affiliated counterparties for inbound/outbound trade [1]:

| HMG Affiliate | Function in Kia's supply chain |
|---|---|
| **Hyundai Mobis (012330)** | Modules, chassis, infotainment, MEB-equivalent electronics, after-sales parts |
| **Hyundai WIA (011210)** | Engines, drivetrain components, machine tools |
| **Hyundai Transys** | Seats and powertrain transmissions (incl. Lear JV for seating, Dymos heritage) |
| **Hyundai Kefico** | Electronic control units (ECUs), fuel injection systems |
| **Hyundai Autoever** | Automotive software and IT services |
| **Hyundai Glovis (086280)** | Inbound/outbound logistics, finished-vehicle shipping, used-car platform |
| **Hyundai Steel** | Hot/cold-rolled steel, automotive steel inputs |
| **Hyundai Robotics / Hyundai E&I / Hyundai NGV / Hyundai Dymos / Hyundai Hysco / Hyundai Comtech / Hyundai Precision / Hyundai LOGISTICS / Hyundai GREEN** | Manufacturing automation, engineering, R&D, niche components, logistics [1] |

Kia also runs a formal **Supplier Financial Agreement** facility that moves liabilities owed to suppliers to a bank for early-payment streamlining; the facility's short-term borrowings stood at **₩74,081 million as of end-2024**, with payment terms of around **185 days** under the facility versus **5–90 days** for trade payables outside it [4]. This is a structural disclosure that the supplier base is large enough — and concentrated enough — to warrant a dedicated supplier-finance program.

### B. External suppliers under CLSA Korea Auto-parts coverage
CLSA covers Kia's external Tier‑1 supplier ecosystem in its **"Korea Auto-parts (Positives priced in)"** note (17 Jan 2025) and the **"Korea autos (Transfer of coverage)"** note (16 May 2025), which list the following parts names as the supplier universe surrounding Hyundai / Kia [Sources, RMS]:

- **Hyundai Mobis (012330)** — primary system integrator and modules supplier (also affiliate).
- **HL Mando (204320)** — braking, steering, suspension. Largest non-affiliated Korean Tier‑1.
- **Hanon Systems (018880)** — thermal management (HVAC, e-compressors for EVs).
- **Hyundai Wia (011210)** — engines and machine-tool affiliate.
- **SNT Motiv (064960) / Sungwoo Hitech (015750)** appear in the broader Korean auto-parts universe but are not Kia-specific in the CLSA top list.

### C. EV battery suppliers (external, non-affiliated)
Kia's EV programs (EV6/EV9/EV5/PV5) source cells from the standard Korean battery trio — **SK On**, **LG Energy Solution (373220)** and **Samsung SDI (006400)** — all of which appear repeatedly in CLSA's "Global EVs" pulse notes alongside Kia in `main_tickers` (e.g., Global EVs December/January/February US EV pulse notes cover 005380 / 000270 / 006400 / 373220 jointly). This is the supplier set CLSA tracks for read-through on Kia's EV cost structure. (See "Sources" section for the CLSA notes that jointly cover Kia and the battery makers.)

### D. Quality / sourcing posture
Kia explicitly highlights **"Strengthen global manufacturing quality standards and improve supplier parts quality"** as a 2025 China-region priority [5], consistent with the supplier-finance facility disclosure [4] — i.e., Kia is actively managing both supplier quality and supplier liquidity.

---

## 3. Summary

| Bucket | Names |
|---|---|
| **Retail/regional customers** | US, Europe, Korea, India, China end-consumers via regional Kia subsidiaries [5] |
| **B2B / PBV customers** | Uber (global mobility), Coupang & CJ Logistics (Korea last-mile) [2] |
| **Robotics / AAM partners** | Boston Dynamics, Supernal (HMG-owned) [3] |
| **Affiliated Tier‑1 suppliers (HMG)** | Hyundai Mobis, Hyundai WIA, Hyundai Transys, Hyundai Glovis, Hyundai Steel, Hyundai Kefico, Hyundai Autoever [1] |
| **External Tier‑1 suppliers** | HL Mando, Hanon Systems (CLSA Korea Auto-parts universe — see Sources) |
| **EV battery suppliers** | LG Energy Solution, Samsung SDI, SK On (CLSA Global EVs coverage — see Sources) |

The dominant feature: Kia's supplier base is **structurally captive to HMG affiliates** (Mobis / WIA / Transys / Glovis / Steel / Kefico are all HMG-controlled), with HL Mando and Hanon as the two principal external Korean Tier‑1s. On the customer side, the traditional retail base is being augmented by an explicit B2B/PBV layer anchored on Uber, Coupang, and CJ Logistics.

---
**Sources**

[1] Kia Corporation, Q4 2023 Report (Related-party transactions, Hyundai affiliates) — DART annual_report
[2] Kia Corporation — Special Call (CES 2025, PBV partnerships) — earnings_call
[3] 2025 Kia CEO Investor Day Presentation — Boston Dynamics / Supernal partnerships (slides)
[4] Kia 2024 Audit Report (Supplier Financial Agreements, ₩74,081m short-term borrowings) — annual_report
[5] 2025 Kia CEO Investor Day Presentation — China region supplier-quality strategy (slides)
[6] 2025 Kia CEO Investor Day Presentation — PBV B2B-customer dedicated channel (slides)

Additional context (CLSA internal research, organization workspace — not separately cited inline):
- CLSA, "Korea autos (Transfer of coverage)" — 16 May 2025 (CLSA) — 607959723LinqAlpha.PDF
- CLSA, "Korea Auto-parts (Positives priced in)" — 17 Jan 2025 (CLSA) — 607948435LinqAlpha.PDF
- CLSA, "Kia – O-PF (Double-digit OPM defended)" — 30 Jan 2025 (CLSA) — 607949007LinqAlpha.PDF
- CLSA, "Global EVs (Dec/Jan/Feb US EV pulse)" — covers Kia jointly with LGES (373220), Samsung SDI (006400)
- CLSA, "Hyundai Glovis – O-PF (Stronger margin from shipping)" — 31 Oct 2024 (CLSA) — covers Glovis (086280) as Kia/HMG logistics supplier

## Citations

- [1] **Kia Corporation, Q4 2023 Report** · external
- [2] **Kia Corporation - Special Call** · external
- [3] **2025 Kia CEO Investor Day Presentation (INT) (1).pdf** · external
- [4] **2024 Audit Report.pdf** · external
- [5] **2025 Kia CEO Investor Day Presentation (INT) (1).pdf** · external
- [6] **2025 Kia CEO Investor Day Presentation (INT) (1).pdf** · external

