Kia has set up an assembly line at Anantpur, Andra Pradesh with the manufacturing line in hopes to expand its portfolio in India.
After the success of its first product in India, the Seltos compact SUV, Kia looks forward to expanding the portfolio with over 6-8 cars in 3 years. The company has set up an assembly line at Anantpur, Andra Pradesh with the manufacturing line to accomplish the same. It is aiming to build a premium image around the brand.
In order to get on the electric bandwagon, Kia is exploring the possibility of bringing the Soul or Niro EV in India. The company states that the plant in Anantpur is capable of rolling out electric vehicles. The decision to begin the same, however, depends on the market response.
Korea’s second-biggest carmaker wants to offer a diverse portfolio ranging from Rs. 10-50 lakhs. Apart from 5 locally produced models, Kia is conducting a feasibility study on 3-4 models in line to be imported as a completely knocked down unit. Cars like the Stinger (Sports car), Telluride (SUV) and Sorento (SUV) are being explored to be brought in as a CKD model. It is to be noted that completely built car imports invite over 120% in custom duty, while for completely knocked down units it is almost half.
Coming up next from the brand is the Carnival MPV set for a launch at the 2020 Auto Expo, followed by a sub-4 metre SUV 6 months later. Kia plans to grab a market share of 5% in the next 3 years.
Kia Niro EV
– Kia is exploring the possibility of bringing the Soul or Niro EV in India
– Plans to expand portfolio with over 6-8 cars in 3 years
– Carnival MPV will be launched at the 2020 Auto Expo
Source – ETAuto.com