Kia India to invest $2 billion in Andhra Pradesh for expansion
The South Korean automaker aims to raise its annual production capacity to 6.2 lakh vehicles through this investment.
Kia India plans to invest $2 billion in Andhra Pradesh to boost its annual production capacity to 6.2 lakh vehicles, according to Moneycontrol.
Managing Director and CEO Gwanggu Lee announced the plan on November 12 during the CII Partnership Summit in Visakhapatnam.
Lee stated that the company's expansion would strengthen its manufacturing presence in India, where it currently operates a plant in the Anantapur district of Andhra Pradesh.
The expansion is intended to help the automaker serve the global market, as it already exports nearly 1.4 lakh vehicles from its Indian plants.
Lee noted that Kia India serves as an example of how collaboration between the government and private industry can develop a manufacturing base.
The company first entered an agreement with the Andhra Pradesh government in April 2017 and started mass production at its facility in August 2019.