Kia Motor Corporation is South Korea’s second-largest automobile manufacturer, headquartered in Seoul. Hyundai Motor Company is leading the Kia Motors is South Korea.
As CM Chandrababu Naidu earlier announced about his plans on making Andhra a quintessential automobile hub, said that KIA Motors will be investing around 1 billion $ in AP.
But, things have changed now for better. Kia Motors is making it even larger with the plans of doubling the investment by raising its total investment on the manufacturing unit coming up in Anantapur district to $2 billion by 2021. This is almost double its initial budget of $1.1 billion.
This upcoming and exciting venture will have initial employment opportunities for over 3,000 people. Mr.Naidu also said that he wanted to make Kia’s only Indian plant the largest in the world. He strongly desired that this project will make frail Anantapur region into a hub for automobile industries.
Andhra Pradesh government allotted 536 acres of land for Kia motors main plant, 36 acres for a township and 11.20 acres for a training Centre.
The training Centre will run jointly with the government to develop required and indispensable manufacturing skills among local residents. When asked about the reason on choosing Andhra as investment destination, Kia official said the AP government was very eager to them in and was offering more incentives than other states in the region.
Today, CM Naidu will attend the frame installation programme of Kia Motors at Yerramanchi village of Penugonda mandal of Anantapur district. Moreover, the Kia Motors is planning to release its first car in March 2019.
On the other hand, the industry-friendly atmosphere and eco-system in the state would attract some more industries as the district is more accessible to international airport and Bangalore city, the government said.