South Korean automaker KIA Motors India on Thursday announced an additional investment of USD 54 million towards the expansion of the manufacturing facility near Anantapur.
This announcement was made by Kia Motors India CEO Kookhyun Shim while participating in an Andra Pradesh government's programme organised at the CM's Camp Office in Tadepalli.
"The investment will be focused on manufacturing SUV vehicles in the state," the government said in a statement.
Interacting with the top lawmakers and bureaucrats of the state led by Chief Minister YS Jagan Mohan Reddy, a KIA Motors' senior executive said, "Kia is all set to become a model for foreign investors and investments coming to AP."
KIA Motors currently employs locals to the tune of 85 per cent, he added.
Already, the company has made an investment of USD 1.1 billion in the manufacturing plant at Anantapur, which employs about 10,000 people.
The facility in Anantapur, spread across 536 acres, has an annual capacity of three lakh vehicles. The plant can produce hybrid and electric vehicles.