Naidu to launch trial run of Kia Motors first car in India
Amaravati, Jan 28 (ANI): South Korean automobile giant Kia Motors has set a record by commencing trial production in a record time of one year.
ANI
Jan 28, 2019 18:47 IST
Amaravati, Jan 28 (ANI): South Korean automobile giant Kia Motors has set a record by commencing trial production in a record time of one year.
Andhra Pradesh Chief Minister N Chandrababu Naidu will launch the trial run of first car in India on Tuesday along with Kia's Managing Director Shim in the presence of South Korea Ambassador to India Shin Bongkil.
The Kia greenfield car manufacturing plant will have investment of over Rs 12,900 crore. Along with Auto Anciallaries of South Korea, this is one of the largest foreign direct investment.
The plant will have initial installed capacity of 3 lakh vehicles per annum which may be further increased to 4 lakh vehicles. Nearly 90 per cent of production will be for domestic sales and 10 per cent for exports.
Kia will generate employment for 4,000 permanent employees and 7,000 temporary employees.
The company will collaborate with the Andhra Pradesh government for developing an ecosystem for electric vehicles.
Andhra Pradesh is one of the first few states to pro-actively bring out a very dedicated automobile and auto components policy in 2015 through backward areas ultra mega integrated automobile projects policy. It is one among the first to bring a dedicated policy for promoting manufacturing and adoption of electric vehicles.
The state has presence of more than 100 auto component manufacturers. It has attracted committed investments of Rs 40,724 crore over the past four-and-a-half years in automobiles sector.
With the presence of Kia Motors and its ancillaries, the entire region from Anantapur towards Bengaluru has the potential to emerge as a strong economic hub.
(ANI)
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