As confirmed by Ho Sung Song, Kia president and CEO at the Investor Day 2024, two new Kia mass-market electric models including the Carens EV are all set to launch in growing markets like India in the upcoming 18 months. The company will also be launching its flagship model, EV9 in India alongside the Carens EV.
The mystery mass market EV SUV codenamed AY-EV will likely be called Kia Calvis upon its launch in the second half of 2025. The brand also plans to launch the Carens-based EV, codenamed KY-EV alongside the Calvis in the same time frame.
Do note that Kia will likely launch an AY SUV with a petrol powertrain in the first half of 2025 and furthermore, Kia estimates that both EV models are likely to bring in combined sales numbers of 50,000 to 60,000 units by 2026.
According to Ho Sung Song, the brand’s goal for 2026 is to achieve a total sales of 5,87,000 units of mass-market EV models with the aim of 66 % of total EV sales. For key markets, Kia will continue to grow by building a full EV line-up by creating new demand through Purpose Built Vehicles (PBVs).
Kia also has a flexible manufacturing line and ICE-derived EVs as Insurance to get out of the risk in case the sales momentum of the EVs doesn’t go as planned. Song further adds that while short-term EV demand slowdown may happen, the demand for EVs in the long term is expected to grow considering the downward trend of EV prices and global CO2 reduction regulations.
Interestingly, a total of 15 new EV models are planned for launch by 2027, starting with the EV3 this year and other models such as the EV2, EV4 and EV5 in the major markets, accounting for a total of 6 mass-market models. For now, the EV sales target is 1.6 million units by 2030 meaning the brand has to sell 1.3 million more units than 2024.
