- A new project will be built on 465 acres in Andhra Pradesh
- The annual production capacity will exceed 6 lakh vehicles
- 12 thousand employment opportunities; Company trust in India
Kia India News : of India Automobile Kia India has taken an important step towards investing heavily in the sector. The company will set up its second manufacturing plant in Andhra Pradesh, with a total investment of US$ 2 billion by Kia and its supplier partners.
The announcement was made by the company after signing a memorandum of understanding with the Andhra Pradesh government. The new project is expected to increase production capacity and create thousands of employment opportunities. Kia has once again expressed great faith in the growing vehicle market in India.
A new project will be built on 465 acres in Andhra Pradesh
Kia India's proposed second manufacturing plant will be set up in Andhra Pradesh on an area of about 465 acres. The company and its suppliers will jointly invest 2 billion US dollars for this project. This expansion will give a big boost to the production system of the company.
At present, Kia's manufacturing plant is functioning at Anantapur. Now through the second project, the company is going to strengthen its manufacturing network in India. The company has clarified that the combined investment in both projects will reach 5 billion US dollars.
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The annual production capacity will exceed 6 lakh vehicles
The new project will add about 2 lakh vehicles to Kia India's annual production capacity. The combined annual capacity of both the projects with the current production capacity is expected to exceed 6 lakh vehicles. This will enable the company to meet the increasing demand of vehicles in the domestic market.
Notably, internal combustion engines (ICE) as well as electric vehicles (EV) The production of new models will also be boosted by this project. The company aims to increase its capacity to supply vehicles from India to the domestic market as well as overseas markets.
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12 thousand employment opportunities; Company trust in India
This new project is expected to generate about 12 thousand direct and indirect employment. This can benefit the industrial development of Andhra Pradesh and the local economy. Gwangju Lee, Managing Director and Chief Executive Officer of Kia India, has described India as an important focus of the company's long-term growth strategy.
He explained that the response and trust received from the customers for the project at Anantapur gave strength to decide on the second project. The company believes that the new investment will increase flexibility in production, meet customer demands faster and give 'Made in India' products more opportunities in the global market.