Kia unveils Seltos SUV

Hyundai’s sibling Kia Motors unveiled Seltos SUV, its first car for India, and said the company plans to have at least four cars in the market over the next three years. However, a hatchback is not being considered at present, even as the company has begun exploratory work on manufacturing electric vehicles here.

The Seltos, likely to be priced around Rs.10 lakh, will primarily compete with Hyundai’s Creta and also target customers of other brands like Jeep Compass and Nissan Kicks. Kia Motors global president H W Park said the company remains committed to its original target of selling three lakh cars annually by 2022.

The company — which will manufacture cars at its newly set up plant at Anantapur in Andhra Pradesh — has committed cumulative investments of up to $2 billion. Park — who had earlier worked in India as the MD of Hyundai — said multi-purpose vehicles and SUVs will be a key focus area for the company as it works towards expanding offerings here.

Asked whether the company feels nervous to launch its brand here when the market is passing through a severe slowdown, he said Kia expects demand to come back as soon as the economy recovers. Asked about the challenges, he said stiff competition from Maruti Suzuki and Hyundai remains a critical factor. Exports will be a critical part of Kia’s India plans.

No comments: