Kia Motor Corporation, headquartered in Seoul, is South Korea’s second-largest automobile manufacturer, following the Hyundai Motor Company. It is known news that AP CM Chandra Babu Naidu announced his plans to make AP automobile hub. It was earlier announced by KIA Motors that it will be investing around 1 billion $ in AP but it seems now, KIA is making it even larger with the plans of doubling the investment. South Korean automobile giant Kia Motors said it would raise its total investment on the manufacturing unit coming up in Anantapur district to $2 billion by 2021 — almost double its initial budget of $1.1 billion. The venture will generate employment opportunities for over 3,000 people.
Chief Minister N Chandrababu Naidu said he wanted to make Kia’s only Indian plant the largest in the world. He evinced hope that the project would turn the drought-hit Anantapur region into a hub for automobile industries. The car maker’s main target group is domestic buyers, but also plans to export its vehicles. AP government allotted to Kia Motors, 536 acres of land for its main plant, 36 acres for a township and 11.20 acres for a training centre which it proposed to run jointly with the government to develop necessary manufacturing skills among local residents. MoU for this was signed in April 2017 itself.
Kia officials, on being asked the reason behind choosing Andhra Pradesh as their investment destination, said the AP government was “very eager to take us in and was offering more incentives than other states in the region”.
