South Korean automobile maker Kia has firmed up an investment of around $2 billion to construct its second passenger car manufacturing facility in India in the southern state of Andhra Pradesh, according to a company official on Friday, November 13.
The manufacturing plant is scheduled to start commercial production in 2030.
"India is central to Kia's long-term growth ambitions," Kia India managing director and CEO Gwanggu Lee said.
The new manufacturing facility and higher capacity in India will enable Kia India to introduce new models and also bolster its exports portfolio, he said.
The investment by Kia India is in line with the industry trend where most other large passenger car makers have lined up big investments in expanding capacity. Last year, Japan's Suzuki had announced an investment of $8 billion to expand capacity of its Indian arm Maruiti Suzuki India Limited (MSIL).
