The South Korean automaker, Kia, recently unveiled the 2023 Kia Seltos midsize SUV, featuring noticeable upgrades both inside and out, along with a new 1.5L turbo-petrol engine. The booking window for the updated model will open on 14th July 2023. During the launch event, Kia also revealed its future plans for the Indian market.
Betting big on new Seltos
Betting on the success of the new Seltos, Tae-Jin Park, Managing Director and CEO of Kia India, mentioned that the company has sold over a million units of the Seltos since its introduction in India. It currently holds a 30% share in its segment over the past four years. Kia India believes that the midsize SUV space will witness an annual growth of 5%, and the new Seltos will cater to the premium end of this segment. With the updated Seltos, the company aims to achieve a 10% market share in the near future.
Network expansion
In terms of expansion, Kia India plans to grow its sales network to over 600 touchpoints by 2028, in addition to the existing 300 showrooms across the country.
Kia’s EV plan for India
As part of its Kia 2.0 strategy for India, the carmaker intends to introduce two electric vehicles by 2025. Both EVs will be manufactured locally at Kia’s Anantapur-based facility in Andhra Pradesh. Kia had previously announced an investment of Rs 2,000 crore for R&D, manufacturing, and infrastructure development for its EVs. The company aims to capture around 20-25% of the EV market by 2030.
2 all-new UVs in 2024
Furthermore, Kia has confirmed the launch of two all-new Utility Vehicles (UVs) in 2024. These include the fourth-generation Kia Carnival and the Kia EV9 electric SUV. Both models made their debut at this year’s Auto Expo. Globally, the EV9 offers three powertrain options, including a 76.1kWh battery with a rear-wheel-drive electric motor, a 99.8kWh battery with rear-wheel drive, and a 99.8kWh battery with all-wheel drive using two electric motors. However, the EV9 will be available in limited numbers as a completely built-up (CBU) unit in the Indian market.
