Business Today
Loading...

Kia Motors to invest additional $54 million in Andhra plant despite COVID-19 pandemic

Kia had earlier said the company has a long-term commitment to the Indian market and invested USD 1.1 billion in the manufacturing plant at Anantapur

twitter-logoPTI Last Updated: May 29, 2020 | 11:13 IST
Kia Motors to invest additional $54 million in Andhra plant despite COVID-19 pandemic

South Korean automaker Kia Motors is planning to invest an additional USD 54 million in its Andhra Pradesh plant, CEO of Kia Motors India Kookhyun Shim said. "Kia was a big success in the Indian car market within 10 months of starting production. We are happy to share with you that we are going to make an additional investment of USD 54 million in the upcoming project despite the COVID-19 global pandemic, Shim said during an interactive programme in which the Andhra Pradesh Chief Minister YS Jagan Mohan Reddy was present.

Shim said Kia Motors and its vendors have hired about 13,000 employees so far and 85 per cent of them are from Andhra Pradesh. Kia had earlier said the company has a long-term commitment to the Indian market and invested USD 1.1 billion in the manufacturing plant at Anantapur. Kia's made-in-India SUV Seltos from the plant was launched in August 2019. The world-class manufacturing facility in Anantapur, spread across 536 acres, has an annual capacity of three lakh vehicles. It would also be capable of producing hybrid and electric vehicles.

Also read: Coronavirus crisis: Renault to lay off 150,000 employees globally

Also read: Coronavirus in India: 7,466 cases in 24 hours, highest 1-day jump, death toll at 4,706; Maharashtra worst-hit

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close