BENGALURU: Based in Seoul, South Korea, Kia Motors, a subsidiary of the auto giant Hyundai is all set for their entry in India. The company, which sells cars across Europe, China, U.S., alongside their home market Korea, feels that a play in India is critical. As forecasted by many agencies, India is racing towards becoming the third-biggest car market globally by 2020, and Kia can make a hold in the Indian auto arena, reports ETAuto.com. The automobile company sells cars that include 'Sportage' compact SUV, 'Soul' cross-over and 'Rio' hatchback.
Kia has begun their introductory task on recognizing land for its industrial unit and is looking at potential models and dealers. The company has completed numerous reports on the Indian market, together with a detailed feasibility study.
Moreover, Hyundai is about to reach peak output at its factory near Chennai and has been cutting back on export shipments to make space for new models. As a result, Kia’s factory in India might be even utilized by Hyundai for manufacturing some of its models. However, Kia will set up a separate retail network and will have a distinct identity, similar in all the other markets where Hyundai is also present, while maintaining certain associations at the back-end and harmonization in procurement of raw material as well as using the parts contractors.
The entry of Kia will make the Indian automotive market more competitive at a time when Toyota is planning to drive in small cars developed and designed by Daihatsu.
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