DELHI IS NEARBY Tae Jin Park, CEO and Managing Director of Kia India, said at the launch of the new mid-life update of its best-selling SUV, Seltos, that the Indian SUV market is becoming more competitive, causing a price war. Kia is putting a lot of money into increasing its capacity, sales network, and product development in India. This is so it can increase its market share and fight with many new cars from Japanese and Indian automakers priced similarly. Kia is ready to lose money to make this happen. In the next five years, Kia wants to go from having 5% of the market to having 10%. It also intends to sell electric cars. It wants to release at least two cars with internal combustion engines and two electric vehicles in five years.
