Auto Expo 2023: Kia plans to invest Rs 2,000 cr on R&D in EV, to launch India-made EV in 2025

Strengthening its focus on the Indian market, Kia India said it will invest Rs 2000 crore on research and development issues pertaining to the EV segment. This investment, it says, will help it launch its India-made EV in 2025. 

"We are moving towards a totally locally produced EV. Our strength lies in our ability to respond to market feedback," Myung-sik Sohn, chief sales and business officer, Kia India said at the Auto Expo 2023, which is back after a hiatus of three years. The first post-Covid auto expo will see the participation of 70 exhibitors, including 45 vehicle manufacturers from different segments.

The Korean carmaker added that it aims to become a sustainable mobility solutions provider globally. "We have 14 BEV models planned by 2027 in the global market and many of those will come to India. We will also have a made in India BEV (battery electric vehicle) for the Indian market. We are an eco-friendly company yhat creates sustainable values and plan to achieve carbon neutrality by 2025," Tae-Jin Park, MD and CEO, Kia India said. 

He added that the company is introducing its concept of purpose-built vehicles (PBV) that address the needs of the local market.

Sohn said that a lot has changed since the company's announcement to come to India. 

"The Seltos became one of the best-selling SUVs in the country. From an unknown brand in 2018 we have garnered 6.7 per cent today. With EV6 we recently forayed into EVs. EVs are the future and we've prepared ourselves for it in advance," he said.

Kia India plans to expand its presence to 220 cities in 2023 and get to 100 plus outlets by 2024.

The company has established itself as one of the most premium brands in the mass market segment. "India is amongst Kia's top three countries after the US and Korea ," Hardeep Singh Brar, head, marketing and sales, Kia India said.

With the launch of KA4, the company is looking to gain a strong foothold in the MPV segment. 

"PBVs will be a key focus for us as we have a first-mover advantage in the sector. The KA4 demonstrates true innovation in cargo segment. It is the fourth-generation model of the MPV and gets features like ADAS, multi-Bluetooth connectivity, rear occupant alert, and dual sunroof, among others," Brar said. 

"There's no doubt that EVs are the future. However, ICE technology is also evolving, and the two technologies will co-exist," Brar added.

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