Automaker Kia India is looking to strengthen its product portfolio as it gears up to introduce a multi-purpose vehicle (MPV) in the country in the first quarter of next year, as per a top company official.
The company, which currently 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.
While the global showcase would happen next month, the actual market launch of the model would take place later in the January-March quarter.
“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,” Kia India MD and CEO Tae-Jin Park told reporters in an event here.
The company has already received a very good response for Seltos, Sonet and Carnival in the country, he noted.
“We are happy 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 consolidate our business and operations,” Park noted.
As per the company’s extensive research it has been found that there is a very high demand for practical and aspirational family car with advanced futuristic technologies, he added.
“We will focus to address 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 want to create a new segment that does not exist. KY is going to be a game changer in the segment,” Park stated.
The new model would have generous space like a big family vehicle and the boldness of an SUV, he added.
Kia has become the fastest player in the Indian automotive industry to cross the three lakh cumulative sales mark in less than two years of commencing operations in the country.
The company achieved the milestone in July this year.