We wouldn't be exaggerating if we dubbed 2025 India's year of reasonably priced electric cars. The top automaker in the nation, Maruti Suzuki, has already declared that it and its partner, Toyota, will join the electric vehicle market in 2025. Kia recently disclosed that it will introduce a brand-new mass-market electric vehicle in 2025 that is made entirely in India during the global unveiling of the 2024 Sonet.
"The new mass market Kia EV will be somewhere in the price range of the Tata Nexon EV though it will be more premium in terms of design and features," stated Myung-Sik Sohn, Chief Sales and Business Officer, Kia India. Sohn continued by saying that the company is certain that the new mass-market EV's low price will increase sales volume because Kia is regarded as a premium brand in comparison to its rivals. He continued, "We anticipate selling about 10,000 of the new EV per year."
Sohn declined to disclose the new, reasonably priced EV's driving range, despite using the Nexon EV as a point of comparison. "Its range will be more than what the Nexon EV offers," he declared. The range of Nexon EV variants that Sohn was referring to will be interesting to observe, as the Tata EV SUV comes in two trims: Mid Range and Long Range, with respective driving ranges of 325 km and 465 km according to the MIDC Cycle.
In the Rs 50 lakh and above category, the Kia EV6 held the top spot as the premium EV in terms of EV market share the previous year. Head of Sales & Marketing at Kia India, Hardeep Singh Brar, stated, "We had a 37% share in this segment last year, but with the competition rising in this year (2023), our share has gone down to 20%."
Kia's EV product plans for the upcoming year were expounded upon by Brar. According to Brar, "Kia will continue to sell the EV6 and will launch the company's flagship electric vehicle, the EV9, in India in 2024." He went on, "Kia India is looking at a market share of 10% by 2026 by launching the mass market EV in 2025.”
By 2025, Kia India plans to expand its plant's capacity from 3 lakh units to over 4 lakh units in order to accommodate the launch of new products. When the business expanded its manufacturing shift schedule from two to three last year, the procedure got underway.
Kia is focused on expanding the charging ecosystem by shifting gears to the mass market EV segment. A 240kW ultra-fast charger is available at one dealer, and 16 dealers currently have 150kW fast chargers. The 90kW chargers will be added next year, Sohn said.
Kia also emphasized the significant challenge of localizing battery technology, which could result in significant cost savings. Sohn said that in order to do this, they are collaborating closely with their regional partners. In addition, he said that the new EV is an Indian-made product that was created specifically for the domestic market but will be exported to other nations, just like the Sonet and the Seltos.
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