KIA Motors to invest $54mn in its Andhra Pradesh facility
The investment will be focused on manufacturing SUV vehicles in the state.
South Korean automaker KIA Motors outlined plans to invest about $54 million in the manufacturing facility in Andhra Pradesh. The investment will be used in expanding the existing manufacturing facility at Anantapur district in the state. It will also be focused on manufacturing SUV vehicles in the state.
Kookhyun Shim, CEO, KIA Motors India, said: “We are happy to share that we are going to make an additional investment of $54 million for the upcoming project despite the COVID-19 pandemic. As we prosper, we will invest more and create more business opportunities in Andhra Pradesh.” He further added that 85 per cent of the employment opportunities created by the company are presently catering to citizens of the state.
The manufacturing unit in Anantapur, spread across 536 acres, has an annual capacity of three lakh vehicles.