Kia signs US$ 1-billion agreement to build a new manufacturing plant in Mexico

Kia Motors Corporation has announced it has signed an investment agreement with the government of Mexico to build a state-of-the-art manufacturing plant in Monterrey which is located the northeastern state of Nuevo Leon.

The official investment
agreement was signed at the Technological Museum of the Electricity Federal Commission (MUTEC) in Mexico City, and was attended by a delegation of key executives from Kia Motors, led by Hyoung-Keun Lee, Vice-Chairman of Kia Motors Corp., and a host of Mexican government dignitaries including Enrique Pena Nieto, President of Mexico, and Rodrigo Medina de la Cruz, Governor of the State of Nuevo Leon.

Construction on the Kia Motors Mexico plant is scheduled to commence in late September, and when completed in the first half of 2016 it will boast an annual production capacity of 300,000 vehicles. The plant will boost Kia's total global manufacturing capacity to 3.37-million vehicles, including 1.69-million vehicles at domestic Korean plants and 1.68-million at overseas plants. Kia plans to produce a range of yet-to-be confirmed compact models at the new plant.

Representing an investment of approximately US$ 1-billion by Kia Motors, the new, highly automated manufacturing plant will be situated on a 500-hectare (53.8-million square foot) site that will also be home to numerous supplier companies' facilities.

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