Kia to boost India plant capacity to 4.3 lakh units by mid-2024

Kia Motor India has commenced the next phase of its expansion in India and is presently in the process of increasing the plant capacity to 430,000 units. Currently operating at approximately 95-100% capacity, Kia anticipates that the Seltos facelift will contribute to the expansion of volumes in the domestic market and exports. During the unveiling of the Seltos facelift, Tae Jin Park, Kia India's Managing Director and CEO, India, informed that the additional capacity, exceeding 350,000 units, will be established by the middle of 2024. Park stated, The market growth is slowing down, and we plan to achieve a 10% growth in the current calendar year. We have high hopes that the new Seltos will generate increased volumes. The Seltos SUV holds significant importance for Kia India. While facing intensifying competition, its sales have recently declined to approximately 5,000 to 6,000 units. However, with the introduction of the facelifted model, the company aims to surpass the 10,000-unit mark, thereby exceeding the market growth, which is expected to remain in single digits. The Seltos plays such a critical role for Kia that one out of every ten models sold globally bears this nameplate. In India, the SUV accounts for 33% of the overall segment. Kia is pursuing a top-down strategy for its electric vehicle (EV) lineup in India. Additionally, the company intends to localize the EV6, which is currently imported in its entirety. Park stated, We will launch the premium EV6 first, and then next year, we also aim to introduce the EV9, which will be positioned in the top-end category of EVs. We are currently exploring how we can establish a CKD (Completely Knocked Down) operation for the EV6. Also read: KEC bags new orders worth Rs 1,042 cr 15km pod taxi corridor in Noida up for grabs