Kia India to Invest $2 Billion in Second Plant, Adding 12,000 Jobs
Kia's Indian unit plans to invest about $2 billion in an additional manufacturing plant in the southern state of Andhra Pradesh, managing director and chief executive Gwanggu Lee announced on Thursday at the Confederation of Indian Industry's Partnership Summit in Visakhapatnam. The investment is expected to create about 12,000 jobs and lift Kia India's annual production capacity to 630,000 vehicles from 430,000 today. Kia did not give a timeline for building the plant or starting production. The company signed its original agreement with the Andhra Pradesh government in 2017 and began mass production at its existing Anantapur plant in August 2019, where it builds the Seltos and Sonet for domestic and export markets. India is the world's third largest car market and is drawing billions in fresh automaker investment.
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