Kia plans to launch two mass-market EVs in India within 18 months to increase its presence in the EV market.
The announcement was made by Ho Sung Song, Kia’s president and CEO, during the company’s Investor Day 2024 event.
New EV Models for Emerging Markets
Kia’s strategy involves the introduction of both flagship and mass-market EV models to cater to diverse consumer demands. The upcoming models include the Kia Carens EV and Clavis EV, set to be launched in the second half of 2025.
Flagship EV9 SUV on the Horizon
Adding to its EV lineup, Kia plans to launch the EV9 flagship SUV in India in 2024. This high-profile release shows Kia’s dedication to establishing a presence in the EV segment. By offering a diverse range of EVs, Kia aims to cater to varying consumer preferences and solidify its position in the Indian EV market.
Sales Projections and Market Strategies
Kia has set ambitious sales targets for its EV models, aiming to achieve sales of 5,87,000 units of mass-market EVs by 2026. The company’s sales strategy focuses on expanding its EV lineup, creating new demand through Purpose Built Vehicles (PBVs), and enhancing customer experiences in emerging markets like India. Additionally, Kia aims to mitigate risks associated with EV adoption by maintaining flexibility in manufacturing and leveraging ICE-derived EVs.
Future Expansion and Growth Plans
Looking ahead, Kia has outlined comprehensive plans for future EV launches, with a total of 15 EV models slated for release by 2027. This strategic roadmap includes the introduction of mass-market models such as the EV3, EV2, EV4, and EV5 in key markets worldwide. With a long-term vision of selling 1.6 million EV units by 2030, Kia is poised to play a significant role in driving the global transition towards sustainable mobility.
Our take
Kia’s ambitious plans for EV expansion in India reflect its commitment to innovation, sustainability, and customer-centricity. By introducing a diverse range of EV models and implementing strategic sales initiatives, Kia aims to establish itself as a frontrunner in the rapidly evolving EV landscape.