A Few days ago, we have informed to our readers that Sri City of Andhra Pradesh is the frontrunner to get Hyundai sibling KIA Motors which is looking to make its entry into India by setting up its maiden factory. While AP is the frontrunner for the project until now, Tamil Nadu entered the fray and is aggressively wooing the company.
Kia Motors have asked for 400 acres of land and Tamil Nadu government offered about 390 acres and is also offering several incentives to the company. The company is reportedly mulling over setting up a factory with annual capacity of 3,00,000 units. Hyundai has a facility at Sriperumbudur, about 40 km from here.
KIA Motors sells several models, Sportage, Optima, Cadenza, Soul, globally and has manufacturing facilities in Korea and Mexico.The formal announcement is likely in the next couple of weeks while Kia team is working on last-minute details, and looking at potential investment benefits offered by the state governments, before they make an announcement.