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News: Headline News | CM to launch Kia Trail Production on 29th
Amaravati, Jan 28: The Korean automobile giant Kia motors set a record by commencing trial production in a record time of one year. Chief Minister N Chandrababu Naidu is going to launch the trial run of first car along with Kia MD Shim tomorrow on January 29th in the presence of South Korea Ambassador to India HE Shin Bongkil.
The Kia greenfield car manufacturing plant will have investment of over Rs 12900 cr. Kia motors along with the Auto Anciallaries from South Korea is one of the largest FDI that has been grounded in India in recent times. The plant will have initial installed capacity of 3 lakh vehicles per annum and may be further increased to 4 lakh vehicles. The production volume will comprise of 90 per cent domestic sales and ten per cent exports. The Kia motors will generate employment for 4000 permanent employees and 7000 temporary employees.
The Kia motors will also be collaborating with govt of AP for developing an ecosystem for electric vehicles.
AP is one of the first few states to proactively bring out a very dedicated automobile and auto components policy in 2015 through backward areas ultra mega integrated automobile projects policy. AP is one among the first to bring a dedicated policy for promoting manufacturing and adoption of electric vehicles. AP has presence of more than 100 auto component manufacturers. AP has attracted committed investments of Rs 40,724 cr over the past 4.5 years in automobiles sector.
With the presence of Kia motors and its ancillaries the entire region from Anantapur towards Bengaluru will be developed into a strong economic hub. The project will have a spin off effect on development of AP, especially Anantapur as an automobile hub.
News Posted: 28 January, 2019
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