A top corporate executive announced on Wednesday that automaker Kia India wants to invest Rs 2,000 crore over the next four years to expand its position in the electric car category.
Over the coming years
the South Korean company intends to spend the money on a variety of things, including EV infrastructure development and manufacturing. It presently only offers one battery-electric model for sale in the nation, but it intends to launch a locally-made product in 2025.
Kia has already made plans to introduce 14 battery-powered vehicles
“At first, there was discussion about whether to use Chinese or American technology, but in the end, India debuted 5G using its own homegrown technology. We have proven that India is capable of being independent. We have demonstrated that Indian scientists and business organizations are capable of rising to the challenge, Sarma added.
Hardeep Singh Brar, vice president & head of sales & marketing for Kia India
stated that the company’s manufacturing facility in Andhra Pradesh is prepared to begin producing EVs in an interview with PTI on the sidelines of the Auto Expo. This $2 billion would be used for manufacturing, infrastructure development, and research and development, he said. The South Korean automaker has invested over $1 billion in its manufacturing facility in the nation, and the projected investment will account for little under one-third of that total, he continued.
He responded to a question regarding the types of electric models
the business intended to release by saying, “We (Kia) have already announced globally that we will be investing USD 22 billion to come up with 14 battery electric vehicles, and obviously we will be looking at some of these products for the India market as well. 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. The company also declared its debut in the market for purpose-built vehicles (PPVs). 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.
On Wednesday, the company also showcased two concepts for electric SUVs:
the Kia Concept EV9 and Kia KA4. “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.”
Read More: Tata Displays Sierra and Harrier EV, Two Electric SUVs at auto expo
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