Kia to invest Rs. 12,750 crore in India over next 2 years


Kia Motors has announced that it plans to invent US$ 2 billion (Rs. 12,750 crore) in India over the next 2 years. This investment will be used to set up a local supplier base.

Earlier this year, the South Korean company had announced its intentions to build a manufacturing unit in Anantapur district of Andhra Pradesh with an investment of US$ 1.1 billion. Production at the facility is expected to commence in 2019.

Kia plans to launch at least three models in India by 2022. According to media reports, the company is aiming to be among the top 5 car manufacturers in the country with annual sales of 3 lakh units. To sell its cars, Kia Motors aims to set up touchpoints in at least 100 places by 2022. It plans to have dealerships in major cities by the end of 2019 itself.

Kia's portfolio is expected to include hatchbacks, sedans and SUVs. A locally built mid-sized SUV is expected to be the first model to be introduced in the country. 

Source: Economic Times

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