In just three years, Kia has become one of the top five carmakers in the country. The Korean company plans to introduce a new flexible platform that will spawn an all-new entry-level electric SUV to continue this success. Kia has begun developmental work for an entry-level SUV codenamed AY. The proposed SUV will feature a new flexible platform, which will enable the production of a mass-market petrol SUV and a pure EV version.
The company plans to launch the globally successful EV6 in the country soon. According to the company, this will introduce the EV market with a premium assembled product. In addition to this, the company will set up the infrastructure for EV manufacturing for the next few years. The company then will launch a mainstream EV by 2025. The two models will make sure that the brand caters to both ends of the market.
The company plans to launch 14 all-electric cars globally by 2030. The CEO of the company shared their EV roadmap last month. According to the roadmap, the annual sales target by 2030 is 4 million vehicles. Additionally, the company targets 50 per cent of the 4 million cars to come from electrified powertrain and 30 per cent from all-electric models.
Currently, Tata Motors dominates the EV market in India with around 90 per cent market share. The domination is thanks to aggressively priced, locally manufactured EVs. Other manufacturers like Maruti Suzuki and Toyota are also looking to enter the EV space around the same time as Kia. By the time the Korean manufacturer entered the market, there would be multiple new electric models by Tata Motors and Mahindra and Mahindra.
India was one of the fastest-growing markets for Kia in 2021. The country outpaces the manufacturer’s global growth and accounts for roughly 10 per cent of the total production and 8 per cent of total revenue.
The South Korean manufacturer currently exports to more than 90 countries. Additionally, with the recent inclusion of the Carens MPV, the company expects even more volumes. Following this, India is on track to be an even bigger global hub for Kia.
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