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Will Kia be a Part of Hyundai Investment Of Rs.4000 CR In Bringing Half A dozen In EVs?

  • Posted by Rakhi Jha On 17-Dec-2021 08:09 AM

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Will Kia be a Part of Hyundai Investment Of Rs.4000 CR In Bringing Half A dozen In EVs?

Kia Carens

Kia, a South Korean auto manufacturer is expecting to grow its sales in India in 2022. Kia plans to enhance their ongoing project towards the beneficial path.

As the shortage of semiconductors hit every single manufacture and ran down their sales, Kia said that this problem is going to ease by the middle of 2022, and the Indian Projects will be able to fully utilise the 300,000 units capacity which has commissioned at its manufacturing facility in Andhra Pradesh and would definitely increase the sales volume by 25-30% from the 220,000-230,000 units.

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Kia India managing director Tae-Jin Park said, “Our business plan got limited this year due to the global shortage of semiconductors. But our volume expectation, also on the back of this new launch (Kia Carens), will reflect in our plans next year,” He also mentioned that we are also targeting exports to increase by 25-30% in 2022.”

Tae-Jin Park

On the unveiling of Kia Carens which is expected to come into the market for the customers in 2022, and going to be positioned between Maruti Suzuki Ertiga and, Toyota Innova . Tae-Jin Park mentioned that “I think for the next few years we have already secured sufficient production capacity.”

Also Read, Kia Carens MPV Unveiled in India

Kia Carens interior

He said, “But from the middle and the long-term point of view, we are looking very carefully. If we have to increase the production capacity, we can do an additional assembly line or whatever it is, we are very carefully studying now.”

Kia mentioned, that the vehicle has been given the SUV style but has been offering the space of MPV. Kia is also expecting that Kia will bring the volume of 5,000-7,000 units a month and would help Kia to increase their sale in the market by around 25,000 units per month to complete the three-year target of selling 300,000 units per annum.

Tae-Jin Park says, “Of course, our production capacity is 300,000 per year. But we can enhance our products with some automation, increase it to 400,000 units per year”, said Park. “I think for the next few years we have already secured sufficient production capacity."

“But from the middle and the long-term point of view, we are looking very carefully. If we have to increase the production capacity, we can do an additional assembly line or whatever it is, we are very carefully studying now.”

 KIA CEREN LAUNCH

Kia India is expected to launch an electric vehicle in the Automobile Market, Announces, Park. He Said The strategy for bringing in eco-friendly vehicles will be finalised and announced early next year. “We are also looking for some possibility of launching EVs in the Indian market. Our sister company Hyundai, they have already announced the strategy here. We are also looking very carefully... Early next year, we will also announce our EV strategy,”.

Hyundai Motor India has mentioned earlier this year,(who owns Kia’s 33.88% stake valued at just over US$6 billion), that they will invest Rs 4,000 crore to manufacture half a dozen electric vehicles into the domestic market by 2028. As Hyundai Motors came up with this statement, We also expect that the Kia will be a part of this announcement, however, this announcement is yet to be made by the company.