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Kia India to pump in Rs 2,000 cr to bolster presence in EV space

Kia India

Kia India to bolster presence in EV space

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 worldwide by 2027.

Kia India

Hardeep Singh Brar, vice president and head of sales and 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 $2,000,000,000 will be used for manufacturing, R&D, and infrastructure development, he said.

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.” The certainty is for one of the EVs to be the mass market EV and to be built from the ground up particularly for the Indian market, the speaker continued. In 2025, it will be launched. This makes one EV certain as of right now, and as I stated, we are evaluating further 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 into the market for purpose-built vehicles (PBVs), filling a gap for specialised institutions.

A police cruiser and an ambulance based on the company’s model Carens were displayed. The company also sells models like Seltos and Sonet.