Kia has announced that it will invest $1.1 billion into a new manufacturing plant in India’s Anantapur District.
The facility will be Kia’s very first in India and construction is scheduled to commence in the final quarter of 2017 before vehicles start rolling out in the second half of 2019.
The plant, occupying approximately 23 million square feet, will include all the necessary facilities for stamping, welding, painting and assembly and ultimately ramp up to build around 300,000 vehicles annually. Additionally, the plant will allow the South Korean brand to sell vehicles in India for the very first time as it looks to capture a share of the rapidly-expanding market.
In announcing the plant, key executives from Kia Motors signed a memorandum of understanding with the State Government of Andhra Pradesh.
In a statement, president of Kia Motors Han-Woo Park 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.”
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