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Kia Motors To Set Up Plant In Tamil Nadu
According to a state official, the TN government has already crossed last year"s investment figure of Rs 12,000 crore, and by the end of the current calendar year,the investment figures will cross Rs 20,000 crore. He also said that, Kia Motors was talking to the state government for setting up a manufacturing plant. Hyundai Motor Company, which already has a manufacturing unit in the state, holds about 35 per cent stake in Kia Motors.
Kia Motors would build a factory in Sriperumbudur with an annual capacity of 3,00,000 units a year, starting from 2012. Hyundai along with Kia Motors will provide more products both for domestic as well as international market.
Tamil Nadu is a leading auto industry hub housing 10 top global auto makers. The state is now focusing on second tire automobile companies. TN government has also signed MoU with JK Tyres which plans to set up a greenfield factory with an investment of Rs 1,500 crore in Sriperumbudur.
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