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Kia set to expand product range in India; new model launch in Q1 next year

IBEF:  November 17, 2021

Kia India is considering to reinforce its product portfolio as it gears up to launch a multi-purpose vehicle (MPV) in the country in the first quarter of next year, as per a top company official.

The company, which presently sells three products in India—Seltos, Sonet and Carnival—is all set to globally unveil its fourth model, a multi-purpose vehicle (codenamed KY), on December 16, 2021.

As the global showcase would take place next month, the actual market launch of the model would happen later in the January-March quarter.

Kia India MD and CEO Mr. Tae-Jin Park told reporters during the event “India is a very important market for Kia globally, not only sales volume wise, but it also has the potential to be a production and global research and development hub.”

The company has already established a very good response for Seltos, Sonet and Carnival in the country, he mentioned.

“We are delighted to announce that Kia India will introduce its new product KY in Q1 of 2022. With KY, we will be kick starting our next India growth phase to strengthen our business and operations,” Mr. Park stated.

Following the company's extensive research it has been discovered that there is a very high demand for practical and aspirational family car with advanced futuristic technologies, he stated.

“We will aim to focus on the unmet need for an innovative, inspiring experience in family commuting with KY. Simply put, we don't just intend to launch a 6-7 seater but we intend to build a new segment that does not exist. KY is going to be a game changer in the segment,” Mr. Park stated.

The new model would have substantial space like a big family vehicle and the boldness of an SUV, he added.

Kia has grown to be the fastest player in the Indian automotive industry to cross the three lakh cumulative sales mark in less than two years of beginning operations in the country.

Kia achieved the breakthrough in July 2021.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.