KOREAN AUTO MANUFACTURER KIA MOTORS, ONE OF THE FASTEST-growing automotive brands, have 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 facility will commence in the last quarter of 2017. This will be Kia Motors’ first facility in India, representing an investment of US$ 1.1 billion (Rs 7,050 crore, approx). Production is expected to begin in the second half of 2019 to the tune of about 3,00,000 units each year.
Kia have stated that they plan to make a strategically placed compact sedan and compact SUV especially for the Indian market. Kia currently have many distinct products in their stable, the likes of the Picanto, Rio, Cee’d, Cerato, Optima, Soul, Sportage, Sorento…