Kia’s Plans for E-Mobility – EV Next
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Introduction
The company, which is a part of the Hyundai Motor Group, plans to launch four new models, including its upcoming SUV Seltos, in the next two years in India with the low-cost EV as a separate project.
Company Profile
Founded in 1944, Kia Motors is Korea’s oldest manufacturer of motor vehicles. Known for their world class quality, its designs appeal to those who are young at heart.
Kia has over 51,000 employees worldwide with annual revenues of over US$47 billion. Kia produces about 3 million vehicles a year at 14 manufacturing & assembly operations in 5 countries. Kia Motors Corporation’s brand slogan – “The Power to Surprise” – represents the company’s global commitment to surprise the world by providing exciting and inspiring experiences.
In April 2017, Kia Motors signed a memorandum of understanding (MOU) with the State Government of Andhra Pradesh, India, to build a new manufacturing facility in Anantapur District. With a capital investment of 2 billion USD by Kia and its affiliates the manufacturing facility is expected to begin production in the 2nd half of 2019 & produce approximately 300,000 units per year.
Product Profile
At the 2018 Auto Expo, Kia had announced that it planned to introduce a diverse range of vehicles in India, including an India exclusive compact electric vehicle between 2019 and 2021.
Kia Motors already has some products for hybrid, plug-in-hybrid, electric vehicle (Niro EV & Soul EV) and fuel cell vehicles which are being sold globally.
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The Niro EV and the Soul EV respectively, displayed at the Auto Expo 2020
Future Plans
- The company is capable of building electric vehicles for the Indian market at its Anantapur plant in Andhra Pradesh. A plan for electric vehicles would be drawn after seeing consumer demand in the country.
- Han-Woo Park, Kia Motors Corporation President and CEO said that they are still working on how to make low cost EV and are also will market together with Hyundai at the Auto Expo 2018.
R&D
- The company is conducting market study in India to find which model out of its global portfolio of 16 brands could be launched here after localisation.
Global Work
- Kia Motors is working on bringing a new dedicated electric vehicle to the market in 2021, which will mark its next step towards electrification, as a part of Kia’s Plan S global strategy.
- Kia will be launching 11 electric cars by 2025 under this plan aims to expand its EV portfolio which currently consists of the Niro EV and the Soul EV, by introducing completely new electric vehicles from the ground up, as well as electric variants of the current internal-combustion engine models on sale.
- Kia will be investing $25 billion to “establish leadership in vehicle electrification and diversify its business” by the end of 2025.
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