New Delhi: Kia Motors expands Indian operations and will increase local production capacity by 40% by starting a third shift in its factory.
The company plans to drive in a new model, including vehicle utility and possibly a hatchback, to capture higher market share.
The company, which has sold more than 3 lakh units since the beginning of the operation in August 2019 in one of the fastest collapses for every debutant car company, plans to increase production at an anantapur factory in Andhra Pradesh from almost 25,000 units, Tae-Jin Park, Head of Sales & KIA India’s business strategy, said.
“India is a strong bet for KIA globally and we will continue to invest in future growth, especially in improving our manufacturing capabilities.
We have plans to start the third shift at our facilities,” Park told Toi, outlines aggressive expansion strategies.
The company – Hyundai Korea group entity – has invested $ 1.1 billion in Indian operations, which collected $ 2 billion if the money invested by component suppliers and other partners was considered.
Asked whether the company will establish a new factory or manufacturing settings while moving towards the initial 3-lakh capacity target, he said new investments will not be an obstacle and further expansion will occur in the existing location.