South Korea’s second-largest automaker, Kia Motors, is considering investing in the Indian market. Reports indicate that the company is in the process of shortlisting sites where it can setup its first production facility in the country. The brand’s entry in the Indian market will be supported by its partner Hyundai Motors which holds the second position in terms of sales in India.
Reports further state that the Kia facility might be operational by 2019 and over a period expects to have production capacity of up to 3,00,000 units a year. Currently, Kia Motors and Hyundai Motors collaboratively hold the fifth automaker position in the global market. Going by current trends, the Indian market is expected to emerge as the third largest auto market in the world by 2020, thereby offering immense potential for the automotive sector to grow.
Kia Motors has not revealed the size of the investment for now and has also declined to comment on the models that might be produced here. The company will reveal details about its India plans sometime by September this year. Reports indicate that states like Maharashtra, Andhra Pradesh and Gujarat have been trying to woo Kia motors to go ahead with its investment plans.
