Korea's Kia Motors to pump in $1.1 bn for India ride

Andhra plant to start car production in 2019, agreement signed

Korean small carmaker Kia Motors has finally announced it will be entering the Indian car market, with an investment of $1.1 billion (about Rs 7,000 crore). 

It will set up a manufacturing unit in Andhra Pradesh, with an annual capacity of 300,000 units. The agreement was signed on Thursday with the state government for a factory in Anantapur district.

Kia’s parent company is Hyundai, India’s second-biggest carmaker, with a 17 per cent market share. 

Kia plans to produce a compact sedan and compact sport utility vehicle (SUV) for the Indian market. 

Both segments are seeing a lot of action and these