ANDHRA PRADESH, 10 July 2023: Kia India is developing a mass-market electric vehicle (EV) for the Indian market that will debut in 2025. The vehicle will be engineered at Kia Corporation‘s headquarters in South Korea but will have significant input from Kia India’s R&D team.
Kia Corporation is investing USD 20bn in 14 battery electric vehicles (BEVs) by 2030. Kia India is evaluating these models to see which ones would be a good fit for the Indian market. The company’s EV6, which was priced at INR 60-70 lakhs, was a surprise success, with sales of over 400 units. Kia is hopeful that the EV9, which was showcased at the expo this year, will also be well-received.
In addition to developing new EVs, Kia India is also looking to expand its market share in India. The company is targeting a 10% market share in the near future. Kia is also planning to double its network of touchpoints and enter new segments.
The development of a mass-market EV for India is a significant move by Kia. The Indian EV market is growing rapidly, and Kia is well-positioned to capitalize on this growth. The company’s strong R&D capabilities and its commitment to the Indian market make it a likely contender for success in the EV space.
Kia India was established in 2019 and is headquartered in Gurugram, Haryana. The company has two manufacturing plants in India, one in Anantapur, Andhra Pradesh and the other in Pune, Maharashtra. The company currently sells a range of vehicles in India, including the Seltos, Sonet, Carnival, Carens, and EV6.
Kia India has been successful in the Indian market, with sales growing rapidly in recent years. In 2022, Kia India sold over 200,000 vehicles, making it the 6th largest automaker in India. The company is targeting a 10% market share in India by 2030.