Kia Allocates $1.29 Billion To Begin Production At Andhra Facility

In a bid to become a leading car manufacturer in India, Kia Motors has announced that it will invest $1.29 billion towards production of its upcoming SP Concept-based SUV at its facility in Anantapur, Andhra Pradesh. The South Korean carmaker also announced that it has tied up with Crescendo Worldwide, an international trade and FDI generating organisation, for manufacturing cost-efficient cars in India. Vishal Jadhav, president of Crescendo Worldwide, said that Kia plans on launching four models in India by 2020, one of which will be the SP Concept-based SUV that will take on the Hyundai Creta. The other three models are likely to be a small hatchback, a bigger SUV and a premium MPV.

Press Release

KIA to invest $ 1.29 Billion to start its production from August, 2019 in India

• KIA plan to become a leading Car Manufacturing Company in India.
• Crescendo Worldwide, an International Trade & FDI generating organization has joined hands with Kia Motors for manufacturing of cost efficient cars in India.

New Delhi, 29th May 2018: Inspired by Prime Minister Narendra Modi’s vision of Make in India, Crescendo Worldwide, an International Trade & FDI generating organization has joined hands with Kia Motors to start its manufacturing in India and can be seen on road from September, 2019.

Kia Motors, company head quartered in Seoul, South Korea, 6th largest producer of Cars and SUVs is entering into Indian Market, with an investment of USD 2 billion and with production capacity of 3 lakh vehicles per year from the world class manufacturing facility setup in Anantapur District, Andhra Pradesh.

Executing this vision, Crescendo Worldwide has organized, KIA MOTORS SUPPLIER MEET Event in Delhi on 29th May 2018, where 200+ Tier 1 and Tier 2 companies and supplier from various cities of India has met KIA Motors India Team.

The event was addressed by Mr. LEE SANGHWA, Chief Product Officer of Kia Motors India, Mr. Vishal Jadhav, President and Ms. Nidhi Shree, Head – Strategic Business Expansion, Crescendo Worldwide.

While addressing the media Mr. Vishal Jadhav President Crescendo Worldwide told,” We believe in bringing more and more business to India and making India a Global Manufacturing Hub. For KIA project, We are targeting to reach TIER2 & TIER3 automotive suppliers specially from small cities, which will support KIA to make cost effective products without compromising on quality. We will get to see 4 models of KIA in India.”

In this event 25 Korean Tier 1 suppliers of Kia Motors also participated. Indian companies also got an opportunity to see latest models of Kia Motors – to know more about parts, components and assemblies.