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KIA Motors On The Lookout For Setting Up New Facility In India
KIA Motors is currently on the lookout for setting up it very own manufacturing unit in the Indian market. The South Korean automobile manufacturer is expected to make an official announcement regarding its site location sometime during next month.
The factory would be operational sometime during 2019. KIA Motors aims at an annual production of approximately three lakh four-wheelers from its Indian facility. They could use the Indian facility as an export hub, as well as a unit that caters to the demand for the Indian market.
Hyundai is the parent company of KIA Motors and has been rumoured to enter Indian market for a while now. Recently, Hyundai Motors announced that they have sold over one million i20 hatchback in the Indian market. They seem to be a bit behind on their goal and will be playing catch up.
So far, KIA Motors cannot confirm the products that could be manufactured and offered in the Indian market. There is a possibility that India could get vehicles specific to the region. Hyundai Motors will be working closely in the initial phase to boost production.
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