Kia announces $1 billion investment in a new manufacturing plant in Mexico

Article by Christian A., on August 28, 2014

Kia officially announced that it will invest around $1 billion in a new, highly automated plant located in Mexico. According to the official press release, the plant will be situated on a 500 hectare or 53.8 million square foot site and till help the company to boost its global manufacturing capacity to 3.37 million vehicles.

Moreover, the car manufacturer announced a new range of compact models that will be produced at the Mexico plant, located the northeastern state of Nuevo León. An investment agreement with the government of Mexico was signed at the Technological Museum of the Electricity Federal Commission (MUTEC) in Mexico City.

The event saw a delegation of key executives from Kia Motors, led by Hyoung-Keun Lee, Vice Chairman of Kia Motors Corp., and a host of Mexican government dignitaries including Enrique Peña Nieto, President of Mexico, and Rodrigo Medina de la Cruz, Governor of the State of Nuevo León.

Kia said that it will start building the plant in late September and it will finish it in the first half of 2016. Around 300,000 vehicles will leave the plant every year, at least according to the initial plans. With the new plant, Kia expects to get rid of the current global supply issues thanks to the strategic location.

Hyoung-Keun (Hank) Lee, Vice Chairman of Kia Motors Corp., said, "All of us at Kia Motors are proud to signal in a new era for the brand with the announcement of our first manufacturing plant in Mexico. We are committed to producing world-class quality vehicles here in Mexico that feature industry-leading styling and high-tech convenience and safety features that customers have come to expect from Kia, while making significant contributions to both the economic growth of the State of Nuevo León and the future development of the Mexican automotive industry." [source: Kia]

Topics: kia, mexico, investment

If you liked the article, share on:

Comments

Recommended

Bimmerpost has posted several cool pictures of the new BMW G30 540i and the new G31 generation BMW 5-Series Touring, with both wearing the brilliant Rhodonite Silver Individual colour. The...
by - October 23, 2017
A few years ago, Lotus tried to take on Porsche. They had a five-car plan to go against competitors like Ferrari and Aston Martin. Though it did not go well,...
by - October 23, 2017
To keep the Nissan Maxima interesting, the Japanese automaker gives the 2018 model year a number of small tweaks. Some of these include standard Android Auto, which is a new...
by - October 23, 2017
It looks as if Chevrolet has everything planned out in terms of production. Firstly, they have plans of introducing the Corvette ZR1 in a few months, which will then be...
by - October 23, 2017
While Tesla Motors continues to struggle with regards to the assembly of its much awaited Tesla Model 3, investment firm Oppenheimer & Co. is confident that its previous production estimates...
by - October 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries