Home > Industry News

Title Kia to kick off construction of India plant by year-end
Write admin Date 2017-06-19 Hit 221
Kia Motors, the nation¡¯s second-largest automaker, plans to commence construction of its first Indian auto facility this year, making its foray into one of the fast-growing auto markets in the world.

¡°We are laying the groundwork for the site and plans to start construction by the end of this year,¡± Park Han-woo, Kia Motors CEO, told reporters at an industry event in Seoul on June 15.

In April, Kia announced it will invest US$1.1 billion to build the first Indian plant in the Andhra Pradesh state with an annual capacity of 300,000 units. It plans to start producing cars in the second half of 2019, focusing on strategic mini sedan and compact SUV for the Indian consumers.

Once completed, both Hyundai Motor and Kia Motors –- which make up Hyundai Motor Group –- will roll out 950,000 units annually, when adding Hyundai¡¯s 650,000 annual production at its two existing plants in the country.

Kia has high hopes on its Indian entry, to boost its declining overseas performance dragged down by slowed sales in its major markets, the US and China.

Park declined to comment on Kia¡¯s recent sales recession in China amid heightened political tension between Seoul and Beijing over the deployment of US-led THAAD missile system.

In May, Kia¡¯s China sales plummeted 65.3 percent on-year to 17,385 units, while its bigger corporate sibling Hyundai¡¯s sales were down 65 percent to 35,100 units.

By Ahn Sung-mi (sahn@heraldcorp.com)
No Title Write Date Hit
318 Hyundai Motor's brand value rises 3 pct to $13.5 b.. admin 2018-10-05 15
317 Hyundai, Kia expect 1 mil. sales in Europe admin 2018-10-05 14
316 Korean carmakers gear up for bigger presence in Eu.. admin 2018-10-05 13
315 Hyundai, Kia see US sales rise in August admin 2018-10-05 13
314 Hyundai Mobis increases AI use for improved effici.. admin 2018-08-29 67
313 Hyundai, Kia remain 5th-largest carmaker in the wo.. admin 2018-08-29 32
312 Hyundai, Kia to provide free safety checkups admin 2018-08-29 45
311 Hyundai Motor invests in Indian car-sharing firm admin 2018-08-29 27
310 Hyundai Mobis named top supplier to GM admin 2018-06-01 162
309 Hyundai Glovis receives ISO anti-bribery certifica.. admin 2018-06-01 110
  1 2 3 4 5