Hyundai sibling KIA Motors is making its entry into India by setting up its maiden factory in Andhra Pradesh. The Bhoomi Puja for this Project will be held sometime in the next month. Buzz is that Hyundai may use a part of Kia Motors’ Production Capacity.
There is also a lot of buzz that Kia Motors will be utilizing 50 per cent of the initial production capacity at 3 lakh units per annum and the remaining one will be used by Hyundai. The Automobiles major may outsource the production of some models to Kia once the latter’s plant goes on stream.
Hyundai may consider spending around 30-40 per cent of the said amount if it goes ahead with its plans to build cars at Kia’s aforementioned facility spread over 600 acres. Hyundai’s manufacturing facility in Chennai already reached its optimum capacity at 7 lakh units per annum.
Selected AP as its home for its first ever plant in India, the company will be making a whopping 10000 Crore investment and will provide 10000 Employment Opportunities. Since it is a major investment, the Chief Minister, Chandrababu Naidu has taken special interest and is monitoring the works all himself.
