The Indian market has always been considered to be one of the best across the globe. By 2020, the Indian market is expected to emerge as the third biggest auto market in the world. Making a note of this, South Korea’s second-largest automaker, Kia Motors, is considering investing in the Indian market. The company is currently shortlisting sites where it can setup its first production facility in the country.
Supported by its partner Hyundai Motors which holds the second position in terms of sales in India, the brand is expected to have relatively easier access here. In the global market, Kia Motors and Hyundai Motors collaboratively hold the fifth position in the automotive world and its entry in the Indian market will mean a stronger market presence. Reports further state that the Kia facility might be operational by 2019 and over a period expects to have a production capacity of up to 3,00,000 units a year.
Kia Motors has not revealed the size of the investment for now and has also declined to comment on the models that might be produced here. The company will reveal details about its India plans sometime by September this year. Reports indicate that states like Maharashtra, Andhra Pradesh and Gujarat have been trying to woo Kia motors to go ahead with its investment plans.
