Kia motors have announced that they are making an entry into the Indian market and have signed an MOU to build a manufacturing plant at Anatapur near Vijayawada in Andhra Pradesh.
The South Korean automaker has said that it will invest around Billon dollars for the building of the plant and will commence work on the same from fourth quarter of 2017. The proposed 536 acre plant is expected to be ready in 2019 with the company aiming to produce 300,000 units a year from this facility.
Taking the approach of bringing tailor made products for the Indian market, the automaker has said that the plant will produce a India specific compact sedan and compact SUV. In addition the facility will also have facilities for vendors, stamping, welding, painting and assembly.
Commenting on the occasion, 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. Our new India plant 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.”
