Electric vehicle (EV) manufacturers are increasingly looking to increase their share in the 1 crore premium passenger car segment with the launch of new models.
So far, EV carmakers have mainly been sub- The Tata Nexon, Nexon Max and Tigor EV, along with the MG ZS EV and Hyundai’s Kona have a fair share of the market in the 2.5 million category in India, and Over 10 million luxury segment dominated by the likes of Mercedes Benz EQC, Jaguar I-Pace and Audi e-tron.
However, now the focus has shifted to premium offerings with Kia and BMW launching high-performance, long-range electric cars. 60-70 lakh segment, and Hyundai is all set to roll out the Ioniq 5 with an expected price tag 40-50 lakhs. The Hyundai Ioniq 5 and Kia EV6 are built on a dedicated EV platform.
The EV6 is already a global best-seller and marks the entry of South Korean carmakers into India’s e-mobility space. Kia India will import 100 cars for delivery from September, but it has received 355 bookings. It may have to import more units than what was initially planned.
Given the global uncertainties around semi-conductor supply and rising demand for the EV6, the waiting period for Indian buyers will be longer. The EV6 has a certified range of 528km.
The parent, Kia Corp, pledged $22 billion to develop 14 battery EVs within the next five years, including a ground-up India-specific sport utility vehicle expected to be launched in 2025.
“We are evaluating all 14 models to see which models can be brought to the Indian market and will suit Indian consumers. We are also talking to potential customers to understand what their aspirations are,” said Hardeep Brar, vice president and head, marketing and sales, Kia India.
Kia’s competitive edge is its aggressive pricing and attractive value proposition with feature-loaded cars like the Seltos.
However, the EV6 will have to push for space with the price of BMW’s i4 sedan. 69.9 lakh, bus 5 lakh more than EV6 59.95 lakh for rear-wheel drive, and 64.95 lakhs for the four wheel drive variant.
“Our strategy has been to enter any segment with one of our bigger cars and then move down. For example, we launched Seltos first, then Sonnet, and then Carnival, followed by Cairns. We are considered a premium brand in India, so we are confident that we are in a good position with the EV6,” Brar said.