The Korean automaker, Kia is planning to enter the electric vehicle space of the Indian market. The company will soon introduce the new Kia EV6 pure Electric SUV as a CBU (Completely Built-Up Unit). A new media report claims that Kia is planning to launch a small SUV EV in the Indian market.
Codenamed AY, the new Kia small electric SUV is expected to be launched in 2025. In fact, development work of the EV has kicked off. The new electric vehicle will be based on a flexible platform, which will also underpin a mass market entry-level petrol SUV.
While the new small EV is still under development, Kia will make its entry into the EV space in 2022 by introducing the successful EV6 to India. The company aims to build the requisite infrastructure before introducing a mainstream EV by 2025.
Maruti Suzuki and Toyota will also enter the electric vehicle space around the same year that’s 2025. The EV segment is currently dominated by Tata Motors with close to 90% market share. By 2025, Tata Motors and Mahindra will have close to 12 electric vehicles in the Indian market.
Globally, Kia aims to introduce 14 electric vehicles till 2030. This year, Kia has approved an A+ segment EV or entry SUV EV for emerging markets from India, an EV pick-up truck, and another model for the developed markets. India has been the fastest growing markets for Kia in 2021. Kia India is likely to beat the global growth, accounting for almost 10% of Kia’s global production and almost 8% of its total revenues.
Kia aims to export close to 80,000 cars from India. The company currently exports to more than 90 countries. Kia will also start exporting the Carens MPV in global markets.