Photo: Kia
Kia has announced today that it has signed a memorandum of understanding to build its third manufacturing plant in China. The facility will have an annual capacity of 300,000 units produced and will open its doors by the second half of 2014.
“Kia is one of the fastest growing automotive companies in the Chinese market and this would not be possible without the continuous support and cooperation from the governments and citizens of Jiangsu and Yancheng. With our third China plant, which we will begin constructing at the end of next year, Kia will be well-positioned to provide its growing Chinese customer base with stylish, safe, reliable and high-quality vehicles while also helping to further develop the local economy and improve people’s lifestyles,” said Hyundai Motor Group Chairman, Mong-Koo Chung.
Last year, Kia sold 333,028 vehicles in China, representing a 38% increase on a year-on-year basis. So far this year (through the end of October), sales of locally produced vehicles recorded 341,682 units thanks to the introduction of the mid-size K5 sedan, better known as the Optima elsewhere.
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