South Korean automaker Kia Corp. said Friday it plans to invest $2 billion in a second manufacturing plant in India to expand its production capacity in the growing automobile market.
Kia India signed a memorandum of understanding with the government of Andhra Pradesh in southeastern India to build the plant in Anantapur, where it already operates a manufacturing facility built in 2019.
The new plant, scheduled to begin production in early 2030, will have an annual capacity of 200,000 vehicles, bringing Kia’s total production capacity in India to more than 600,000 vehicles a year.
Kia currently sells a range of vehicles in India, including the Seltos, Sonet, Syros, Carens, Carens Clavis and Carnival.
The investment is part of Hyundai Motor Group’s broader efforts to strengthen its presence in India, the world’s third-largest automobile market after China and the United States.
In October, the automotive conglomerate announced plans to invest $15.5 billion in India between 2026 and 2032. (Yonhap)
Source: www.koreaherald.com
