Kia to invest over Rs. 2,000 crore in India market for electrics.

 Korean carmaker Kia has said that it will invest over Rs. 2,000 crore in India for making electric cars and set up a battery manufacturing facility as the company drives in green cars in line with the government’s focus on sustainable mobility.

The company said it will drive in a locally built electric in 2025, development work for which is being done in India and Korea. Also, the company plans to bring global electrics that it will be launching across various markets to boost its green line-up.

It forayed into the electric vehicles segment in India with the launch of EV6, priced at Rs 59. 95 lakh (ex-showroom), though this is an imported model.

Company officials say that they want to price the locallybuilt car competitively, and in line with the price-conscious nature of buyers. However, Kia wants that the government provide direct benefits to buyers on purchase of electrics, apart from enabling a more robust charging infrastructure.

Kia is a Hyundai Group company, and follows similar strategies by local Tata Motors and Mahindra & Mahindra in driving in green vehicles. Hyundai is also planning local and imported models in the electric space.

ET