KIA announces plans to build a factory in India with 30 million units
CRI's hearing Korea automobile manufacturers Kia Motors Corporation (Kia Motors) on Wednesday announced that the company plans to build a factory in India. If everything goes smoothly, the factory will be 2012 formally put into production, annual vehicle production capacity will reach 30 million units. As India's economy in recent years of sustained and rapid development, the market has become a major automobile producers compete for one of the key.
A Kia automotive press spokesman said that at present the company is to build a factory in India plans to conduct a feasibility study. According to current plans, Kia Motors will select in India's fourth largest city to establish plant near Chennai. The press spokesman added that "based on modern car in 1998 into the India market situation considerations, our comprehensive assessment in India established factory project cost and time factors, at the same time, our evaluation also involves for the India market demand forecasting and modern cars currently in the market of actual sales, and other factors. ”
As KIA motor's parent company, modern cars currently in Chennai has established two factories with a total annual capacity is 60 million Yuan. Throughout 2009, Hyundai Motor through the above two factories producing the 56 million vehicles, of which around 29 million units sold to the domestic market of India. Currently, Hyundai Motor in the India market share of about 20%.
Analysts think, Kia Motors has announced plans to build factories in India, added that the company hoped to its European market looking for a new replacement market. Currently, the European market is Kia automobile major export destinations. But in the European economy is in downturn, the market of automotive demand has stagnated. Compared with this, the India market automotive demand remains high speed growth.
Throughout 2009, India market passenger car sales reach 140 million units. According to the analyst's estimate that by 2015, India automobile market annual sales will reach 300 million units, thus becoming the second only to China, the United States and Japan's fourth-largest automobile market in the world.
As the capital of Tamil Nadu, Chennai has gathered a number of international automobile manufacturers, including modern automobiles, Ford automobile, BMW automobiles and Mitsubishi . It was to foreign media reports, PSA Peugeot Citroen company also plans to establish in Chennai, and a factory has been associated with the local government. (Yi Hai)