Korean auto manufacturer Kia Motors have been positioned as one of the fastest-growing automotive brands, they have now signed a memorandum of understanding (MOU) with the State Government of Andhra Pradesh, to build a new manufacturing facility in the Anantapur District.
The construction of the new manufacturing facility will commence in the final quarter of 2017. This will be Kia Motors’ first facility in India and representing an investment of US$ 1.1 billion (Rs 7,050 crore, approx). The manufacturing facility is expected to begin production in the second half of 2019 and produce up to approximately 3,00,000 units each year.
Han-Woo Park, President of Kia Motors said “We are delighted to announce that Kia’s newest manufacturing facility will be here in Andhra Pradesh. It will enable us to sell cars in the world’s fifth largest market, while providing greater flexibility for our global business. Worldwide demand for Kia cars is growing and this is our latest step towards becoming a leading global car manufacturer.”
Kia have stated that they plan on making a strategically placed compact sedan and compact SUV especially for the Indian market. Kia currently have many great products in their stable, the likes of the Picanto, Rio, Cee’d, Cerato, Optima, Soul, Sportage, Sorento and the newly launched Kia Stinger. Hopefully some of these products will find its way to our shores.
Story: Sahej Patheja
