Kia India to invest money in its EV sector for manufacturing and infrastructure development. Kia also unveiled its EV9 concept electric SUV: Auto Expo 2023.
Kia India to invest money in its EV sector for manufacturing and infrastructure development. Kia also unveiled its EV9 concept electric SUV: Auto Expo 2023.
In India, electric vehicle (EV) adoption has a very promising future, despite what many people may think. Low manufacturing and operating costs are due to the development of ground-breaking EV technologies in India and around the world, as well as the commitment to share this technology for the benefit of everybody.
Electric cars are shown to not only be one of the most economical substitutes for fossil fuel-powered vehicles but also to be a cleaner option. Considering the skyrocketing fuel prices, this is a significant bonus for EV adoption in India.
Big Automakers are moving to electric vehicles at a good speed as the future of the EV sector in India looks bright and Kia is no exception either. Kia India is focusing on its EV collection and working on the expansion of the market.
On the opening day of India’s premier auto show, Auto Expo 2023, electric vehicles stole the show as manufacturers including Maruti Suzuki, Hyundai, Kia, Tata Motors, and MG Motor displayed their cutting-edge creations and pledged to make investments in sustainable transportation.
At the Auto Expo 2023, South Korean automaker Kia unveiled its EV9 concept electric SUV. By 2025, the business claimed, it would introduce locally-made electric cars (EVs) in India.
Kia India also plans to invest Rs 2,000 crore over the following four years to increase its presence in the electric vehicle industry, according to a senior business executive.
At Auto Expo 2023, a senior corporate representative stated that the company intends to spend money over the coming few years on several components like EV manufacturing and infrastructure development.
The company claimed that India is one of its target markets and that its total cumulative sales will surpass 8 million in 2022. It presently offers one battery-electric model for sale in the country, but it intends to launch a locally-made product in 2025.
Kia has already made plans to introduce 14 battery-powered vehicles worldwide by 2027.
According to a corporate spokesperson, “We (Kia) have previously made it known that we will be investing $22 billion to develop 14 battery electric vehicles, and obviously, we will be looking at some of these items for the India market as well.”
It presently only offers one battery-electric model for sale in the country, but it intends to launch a locally-made product in 2025.
In an interview with PTI on the sidelines of the Auto Expo, Hardeep Singh Brar, Vice President and Head of Sales and Marketing for Kia India, stated that the company’s manufacturing facility in Andhra Pradesh is prepared to begin producing EVs.
According to him, the expected investment represents just under one-third of the nearly $1 billion in total funding that the South Korean automaker has used to build up its production facility in the country.
He continued, “One of the EVs would undoubtedly target the mass market and be built from the ground up with the Indian market in mind. In 2025, it will be launched. So, there is one EV that is certain right now, and as I mentioned, we are evaluating more options from the portfolio that will be available globally by 2027.”
He said that the investment timetable will be consistent with the company’s global investment plan, which runs until 2027.
With the possibility of 100% FDI, new manufacturing centers, and intensified efforts to improve charging infrastructure, the electric car industry in India are gaining momentum. Other growth factors for the Indian EV market include federal subsidies, a regulation that favors higher discounts for electric two-wheelers built in India, and an increase in localized ACC battery storage production.
It is especially important to highlight the notable steps the Indian government has done toward EV adoption. The government is pushing newer potential vehicle owners to choose an electric vehicle (EV) rather than a fossil-fuel vehicle through tax subsidies and stronger regulations.
About Kia India’s Electric Vehicles
By releasing the Kia EV6, its first “born EV,” in 2021, Kia kicked off the second stage of its electrification strategy. By 2027, several other Kia electric vehicle models, including the Kia EV9 flagship SUV, will be available. The second custom Kia electric vehicle may be known internally as the “Kia MV,” according to an exclusive story by ETNews that was released on November 4, 2021.
The Kia EV9 will be huge, boxy, and bold like the Telluride as the company’s flagship SUV. The inside space of the EV9 might be equivalent to or superior, although it will be smaller. Kia will be able to construct the EV9 with a roomier interior and fewer overhangs than equivalent gasoline-powered vehicles thanks to its unique EV platform (E-GMP). A flat floor will be advantageous for passengers as well.
The company also declared its debut in the market for purpose-built vehicles (PBVs), filling a gap for specialized institutions.
A police cruiser and an ambulance based on the business’s model Carens were displayed. The company also produces models like Seltos and Sonet.
According to Brar, “We feel there is a sizable demand for purpose-built cars, and we (Kia worldwide) want to be global leaders in this specific area by 2030.
The carmaker introduced the Kia Concept EV9 and Kia KA4 all-electric SUV Concepts.
“Our electrification journey in India began with the introduction of the EV6, and with the concept EV9, we are now showcasing our future vision. We wish to demonstrate our strength in the well-liked UV market with KA4, “Tae-Jin Park, managing director and CEO of Kia India, stated.
He continued, “With the PBVs, the company has successfully identified a gap in the Indian market and is providing innovative mobility solutions for specialized institutions.”
The manufacturer promised to update its models in time to meet the impending, tougher emission standards.
At the 16th iteration of the Auto Expo 2023, Kia India also unveiled two long-term CSR initiatives: Project DROP (Develop Responsible Outlook Toward Plastic) and Project Uphaar.
Other big Automakers were also present at the Auto Expo 2023. Despite the absence of certain important producers like Mahindra & Mahindra, Skoda, Volkswagen, and Nissan, and luxury automakers Mercedes-Benz, BMW, and Audi, the company’s Indian affiliate Maruti Suzuki India is one of the expo’s top manufacturers.
Hyundai Motor India unveiled the Ioniq 5 all-electric vehicle in front of Bollywood legend Shahrukh Khan, offering the first 500 buyers the vehicle for an introductory price of Rs 44.95 lakh (ex-showroom). The company’s E-GMP battery-electric vehicle platform serves as the car’s foundation.
In keeping with the trend of electrified and sustainable transportation, Tata Motors showcased more than 20 products from its array of passenger and commercial vehicles.
In addition to displaying its two electric vehicles, the MG4 hatchback, and the MG EHS plug-in hybrid SUV, MG Motor India presented the new Hector SUV. Price range for the upgraded Hector SUV is between Rs 14.72 to Rs 22.42 lakh (ex-showroom).
edited and proofread by nikita sharma
