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Kia plans second Indian factory with about $2 billion in supplier-backed spending
The Anantapur project would add 200,000 vehicles in annual capacity and is expected to generate about 12,000 jobs.
Kia said on November 12 that it and its suppliers plan to spend about $2 billion on another vehicle factory in Andhra Pradesh, India. Manufacturing at the proposed site is expected to start in early 2030.
The automaker has signed a memorandum of understanding with Andhra Pradesh's government and expects the investment to generate about 12,000 jobs through direct hiring and indirect employment. The Anantapur site would occupy 465 acres, with some land designated for suppliers.
The factory will build both electric vehicles and models with internal combustion engines, Kia said. Its planned annual output capacity of 200,000 vehicles would supplement Kia India's existing capacity of 430,000 units.
Counting supplier spending, the project would bring investment in Kia's two Indian factories to about $5 billion. Gwanggu Lee, Kia India's managing director and CEO, said the expansion would help introduce additional models and serve buyers in India and abroad.
Kia's current Anantapur operation began mass production in August 2019, following a 2017 agreement with the state government. Its products include the Seltos and Sonet, sold locally and exported.