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MixIndia > Blog > News > Kia Motors To invest ₹400 crores in Andhra Pradesh plant
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Kia Motors To invest ₹400 crores in Andhra Pradesh plant

Rakesh Sudheesan
June 3, 2020 3:27 pm 3:27 pm
Rakesh Sudheesan
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South Korean car maker Kia Motors said it would invest $ 5.4 billion (about Rs 407.83 crore) in the expansion of its auto plant in Anantapur, Andhra Pradesh. The additional investment will be for the construction of a new sport utility vehicle (SUV). Kia Motors India chief executive Cook and Shim made the announcement at the Mana Palna-Mukhna event organized by the Andhra Pradesh government. Shim said he was delighted to announce this additional investment amid concerns raised by Kovid 19.

Kia has been very confident that the first model SELTOS SUV was launched in India. The all-purpose multi-purpose vehicle (MPV) Maya Carnival is also well-received, according to Kia. In this context, Kia Motors’ plan is to come up with predefined model presentations. Kia’s next model will make its debut in India sometime around August – September. Sonnet, the compact SUV. In addition to Hyundai’s Venue, the sonnet is also expected to come with the Tata Nexon, Ford EcoSport, Mahindra XXV300 and Maruti Suzuki Vitara Braza.

With a wide range of power train options, great features and features, the Sonnet is expected to cost between Rs. Kia Motor has invested about USD 110 crores (approximately Rs 8,141 crores) for its plant in Anantapur. The plant has an installed capacity of 3 lakh units per year. Kia Motor plans to increase production capacity by one and a half lakh units in line with the already announced additional investment. Kia’s three-fold offer comes as sales and exports continue to rise, not enough to meet current production capacity.

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