At Investor Day 2024, Korean automaker Kia revealed its strategic plan for India, highlighting the need to meet the varied needs of car buyers in a diverse nation like India. To cater to these expectations, Kia President and CEO Ho-Sung Song announced the company's intention to introduce two new mass-market electric models within the next 18 months. Notably, the Carens EV is anticipated to be one of these upcoming offerings. Furthermore, Kia intends to expand the range of EVs in its portfolio by launching the EV9 in India this year. With this, the brand will offer electric models in both entry-level and premium price ranges. Read on to learn more about Kia's plans when it comes to the Indian market.
Kia Carens EV: Key Details
The electrified Carens will arrive on Indian shores by 2025. The EV, which might be exported from India to other growing markets, will be Kia's first locally manufactured car. There will be another EV joining it; no specifics have been disclosed, but considering the preference of the category and the design of the vehicle, it is likely to be an electric compact SUV.
In terms of price, the Carens EV is expected to cost between Rs 22 lakh and Rs 26 lakh. For reference, the price range of the petrol-powered Carens starts at Rs 10.52 lakh and goes up to Rs 19.67 lakh. All mentioned prices are ex-showroom. Upon launch, the EV will go up against upcoming models like the Maruti Suzuki eVX and the Mahindra XUV.e8.
Kia Future Plans
Kia aims to maintain its growth in key regions with a broad EV lineup, improved product competitiveness, and Purpose-Built Vehicles (PBVs) to generate demand. According to the brand, it further hopes to set itself apart in new markets by providing excellent client experiences and expanding its production base to accommodate rising demand. With this year's EV3 introduction, the company plans to dramatically increase the number of electric vehicles in its lineup. After that, it will roll out EV2, EV4, and EV5, taking the overall number of mass-market cars to six in all significant markets. By 2027, Kia will boast 15 all-electric cars globally.
Kia is planning to sell 16 lakh electric vehicles by 2030. To meet this target, the company will need to sell 13 lakh more vehicles than it will in 2024. It is anticipated that by 2030, the share of EV sales in major regions will increase from 13 per cent this year to 52 per cent, with the North American and Korean markets potentially accounting for 40 per cent of sales and Europe for up to 79 per cent. However, no precise information was given regarding the volumes or penetration of our market.
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