It is no secret that Hyundai Group is working on locally developed electric vehicles for the Indian market. Hyundai is currently testing the electric version of the Creta SUV, which is expected to be launched sometime in late 2024 or early 2025. Similarly, Kia is also working on multiple EVs for the global markets which are being considered for the Indian market. Speaking to Myung-Sik Sohn, Chief Sales & Business Officer, Kia India said that the company is aiming to capture a double-digit market share in the next 2 years.
The company is working on multiple new models for the Indian market. In order to expand its product portfolio, Kia India is planning to introduce more Recreational Vehicles (SUVs + MPVs). He further confirmed that the company is planning to localise its electric vehicles in India with its first launch scheduled in 2025. The first locally developed Kia will be an all-new Recreation Vehicle or RV body type.
Kia believes that EV sales will hit close to 2 lakh mark annually by 2025 with an estimated penetration of around 5% in the total passenger vehicle sales. For people not in the know, Kia is already marketing the Carens MPV as the Recreational Vehicle. The new electric vehicle could be based on the modified version of the existing ICE platform. The new EV could also be the electric version of the Seltos SUV, as Hyundai Creta will also have an electric derivative.
Earlier media reports claim that Kia is also planning to launch a small SUV with electric powertrain in the country. Codenamed AY, the new EV is expected to be launched by 2025. This EV will be based on a flexible platform, which will also underpin a mass market entry-level petrol SUV. The new EV will be positioned between the Creta and the Sonet SUV.
Myung-Sik Sohn further added that the Anantapur manufacturing facility of Kia is equipped with advanced technology and is ready to roll out these EVs. “We are on track with our EV strategy in India and are going to launch a ‘Make in India’ affordable EV in 2025.
Source – ET Auto
