Kia Motors India Pvt. Ltd, a unit of Hyundai Motor Corp. of South Korea, is likely to participate in bids to supply electric vehicles (EVs) to the government once its manufacturing unit is commissioned in the Anantapur district of Andhra Pradesh.
Kia’s management has already studied the possibility of launching EVs in India, and the firm may also introduce an electric power train with its second or third product in India by 2021, a person with direct knowledge of the development said to Livemint.
Kia Motors India has already announced its plans to enter India with a compact utility vehicle, the SP Concept, which was showcased at the Auto Expo in February.
However, the company will introduce electric cars in India only if it is satisfied with the government direction for electric and sustainable mobility, including infrastructure for charging stations. In the recently concluded Delhi Auto Expo, the company exhibited its electric cars Soul and Niro. The firm has a 5-6% share in the global market for electric vehicles.
Kia Motors India’s manufacturing capacity in India will have an annual capacity of 300,000 units and the company plans to exhaust the capacity in the next 3-4 years. The company aspires to become the third or the fourth largest car maker (overall) in India within three to four years of unveiling its first product in the market.
Kia Motors will not compete with Maruti Suzuki India Ltd or Hyundai in the mini or small hatchback segment. The company is the process of finalizing its product strategy and the second and third product may be a utility vehicle or premium hatchback. The company will look at alternative ways for introducing its offerings in the electric vehicle space as well other than participating in the bid to supply such vehicles to the government, reported Livemint.
