Kia Unveils Ambitious EV Roadmap for Emerging Markets

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Kia, a Korean carmaker, has unveiled its electric vehicle (EV) roadmap for emerging markets, including India, at its Investor Day 2024. The company emphasized the importance of catering to diverse consumer demands in a country as varied as India. Ho-Sung Song, President and CEO of Kia, outlined the company’s plan to launch two dedicated EV models in emerging markets. The Kia Carens EV is expected to be one of the contenders, and the upcoming launch of the EV9, Kia’s flagship electric vehicle, is planned for the Indian market in 2024.

Kia’s EV lineup strategy involves launching flagship EV models first, followed by mass-market models to enhance consumer accessibility. The company is likely to introduce the Carens-based EV, codenamed KY-EV, in the second half of 2025, followed by a compact mass-market SUV EV codenamed AY-EV.

Kia plans to continue its growth in key markets by building a full EV lineup, enhancing product competitiveness, and creating new demand using Purpose-Built Vehicles (PBVs).

In emerging markets, Kia aims to differentiate the brand by offering high-quality customer experiences and diversifying manufacturing bases to meet increasing demand.

Globally, Kia has decided on a total of 15 EV models for its 2027 lineup. The company is set to significantly expand its electric vehicle lineup, starting with the launch of the EV3 this year. Following this, Kia will introduce the EV2, EV4, and EV5, bringing the total number of mass-market models to six across major marketsmarkets

Kia has an ambitious EV sales target of 1.6 million units by 2030, which will require a substantial increase of 1.3 million units from its 2024 sales figures. The proportion of EV sales in major markets is expected to grow from 13 per cent in 2024 to 52 per cent by 2030, with the majority of growth coming from emerging markets like India.