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Kia Inks Deal to Build $1.1 Billion Assembly Plant in India
Kia Motors Corp. has signed a memorandum of understanding to open a $1.1 billion factory in Andhra Pradesh, India, in the second half of 2019.
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Kia Motors Corp. has signed a memorandum of understanding to open a $1.1 billion factory in Andhra Pradesh, India, in the second half of 2019. The project was reported two weeks ago by The Economic Times.
Located near Bangalore and an assembly plant operated by parent company Hyundai Motor Co., the factory will open with initial capacity to make 300,000 vehicles per year. Kia confirms the facility will make small sedans and compact SUVs for the domestic market.
Construction is scheduled to begin in the fourth quarter of 2017. The 536-acre site will house stamping, welding, painting and final assembly functions. Kia says several supplier company operations also will be located within the complex.
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