Kia Motors to invest $54 million in Andhra Plant

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May 28, 2020

AMRAVATI: In a major boost to the economic development in the state, Kia Motors announced investing $54 million for expansion of its Ananthapuram plant. Speaking at a summit chaired by chief minister YS Jaganmohan Reddy at CM’s camp office on Thursday, Kia motors managing director and CEO Kookhyun Shim said that they will be bringing additional investment to manufacture new version of SUVs in Ananthapuram plant.
He said that Kia has developed strong bond with AP as it has many natural advantages. “We are committed to expand and grow through our plant in AP. We are getting fullest support from a clean government in the state,” said Shim. He also said that the government is working with transparent policies with utmost accountability.
The CEO further added that AP could be biggest destination for industrial development in the future. “Many foreign industrialists are of the view that AP could be their natural choice for putting their monies. Kia has special bond with the state and the government,” said Shim.
The announcement of the South Korean auto major is seen as a shot in the arm for the YS Jaganmohan Reddy led government in attracting more investments. In fact, Kia CEO’s statement is particularly significant in the wake of rumours spread in the past about the firm’s plans to move out the state. However, Kia had strongly condemned the rumours saying that it had no such plans to shift the plant. The auto maker’s plans to expand its plant in Ananthapuram to manufacture SUVs will surely boost the state government’s image in the industrial circles.

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