South Korea's Kia Motors to invest $1.1 bn to set up facility in India

South Korea’s Kia Motors will invest $1.1 billion (about Rs 7050 crore) to set up its first automotive manufacturing plant in India at Anantapur (Andhra Pradesh). The manufacturing facility, the construction for which will commence in the final quarter of 2017, is expected to begin production in the second half of 2019 and produce up to approximately 300,000 units each year.

Kia Motors has signed a memorandum of understanding (MOU) with Andhra Pradesh Government to build the manufacturing facility in Anantapur district. 

Construction of the new manufacturing facility, Kia Motors’ first in India and representing approximately a US$1.1 billion investment, will commence