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Kia to expand India operation by investing US$ 54 million

Sep, 2020

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Kia India has also donated around US$ 20 million to the Andhra Pradesh Chief Minister's Relief Fund to fight against the novel coronavirus.

On May 28, a South Korean automotive manufacturer, Kia has announced that the company is planning to invest around $54 million in Anantapur plant that is located in Andhra Pradesh, India to expand its India operation. KIA India has also declared the resumption of the production of the Carnival MPV and Seltos SUV in Anantapur, Andhra Pradesh with new safety protocols. The company has resumed its production after taking necessary permissions from the local municipal corporation of Anantapur and Andhra Pradesh Government.

Kia Motors India CEO and MD, Kookhyun Shim confirmed this announcement at the Mana Palana-Mee Suchana program in Andhra Pradesh. The company has decided to invest Rs. 400 crore, considering the encouraging response of the Carnival MPV and the increasing sales of the Seltos SUV. Despite the lockdown delays, the company is also planning to launch the compact SUV named the Sonet by August-September 2020. After the launch, the Sonet will compete against the Maruti Suzuki Vitara Brezza, Mahindra XUV300, Ford EcoSport, Tata Nexon, and Hyundai Venue. Kia India has already invested around US$ 1.1 billion in its Andhra Pradesh plant. This plant can manufacture around 3 lakh units per year.

With this additional investment, Kia India is planning to increase its production capacity of the Anantapur plant. Moreover, the company has launched a Kia Care initiative to curb the spread of the novel coronavirus. Under the protection policy, Kia India has also decided to extend the duration of the free service by two months, considering delays in servicing due to nationwide lockdown. The Korean brand has also donated around US$ 20 million to the Andhra Pradesh Chief Minister's Relief Fund to fight against the novel coronavirus. The company is also planning to offer extended free services to all its customers until July 2020.

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