Kia, a Korean automaker, has announced plans to invest over Rs 2,000 crore in India to build electric vehicles and establish a battery production plant as the business pursues green vehicles in line with the government's focus on sustainable transportation.
The corporation stated that it will drive a domestically produced electric vehicle in 2025, with development work being done in India and Korea. In addition, the corporation intends to introduce global electrics that it will offer in other regions to supplement its green lineup.
It entered the Indian electric vehicle market with the debut of the EV6, which is priced at Rs 59. 95 lakh (ex-showroom).
Officials at the company said they aim to sell the locally made automobile competitively and follow consumers' price-conscious mentality. Kia, on the other hand, wants the government to give direct advantages to owners of electric vehicles in addition to providing a more extensive charging infrastructure.
Kia is a Hyundai Group subsidiary that pursues similar green car goals as local Tata Motors and Mahindra & Mahindra. Hyundai is also planning local and imported electric cars.