Visakhapatnam (Andhra Pradesh) [India], November 12 (ANI): Kia India Managing Director and CEO Gwanggu Lee on Thursday announced an investment of approximately USD 2 billion (around Rs 17,000 crore) to establish an additional manufacturing plant in Andhra Pradesh, a move expected to generate around 12,000 jobs and increase the company's annual production capacity from 4.3 lakh to 6.3 lakh vehicles.
Speaking at the inaugural session of the 31st CII Partnership Summit in Visakhapatnam, Lee said the proposed plant would expand Kia India's manufacturing operations in the state and strengthen its long-term commitment to the Indian market.
He said, “Today, I'm so delighted to announce the expansion of key operations in Andhra Pradesh through the establishment of an additional manufacturing plant with an investment of approximately 2 billion US dollars. This project is expected to create around twelve thousand jobs and increase India's annual production capacity to six hundred thirty thousand vehicles”.
Lee said Kia's existing manufacturing facility in Andhra Pradesh, with an annual production capacity of 4.3 lakh vehicles, has created significant employment opportunities and contributed to the development of the state's automobile ecosystem.
“Our Andhra Pradesh facility, with an annual production capacity of 430,000 vehicles, has created significant employment opportunities and contributed to the growth of the state's automotive ecosystem”, he said.
Kia's journey in Andhra Pradesh began in 2017 with the establishment of its first manufacturing plant, which was commissioned in a record 14 months.
The company's existing facility has also emerged as a major export hub. Kia India has exported more than 4.1 lakh vehicles and kits to nearly 100 countries from the Andhra Pradesh facility.
Lee said Kia India had achieved the production milestones of 1 million vehicles in four years and 2 million vehicles within seven years, making it the fastest original equipment manufacturer (OEM) to reach these milestones.
He added that the company's contribution to the state extends beyond manufacturing through supply-chain development and corporate social responsibility initiatives in education, healthcare, skill development and community welfare.
Lee also expressed the company's commitment to further strengthening its partnership with the state government and supporting its ambition to become a global manufacturing and innovation hub. (ANI)
Kia India announces $2 billion Andhra Pradesh plant; capacity to rise to 6.3 lakh vehicles, 12,000 jobs expected
