Taylor Swift returns to Spotify the same day Katy releases album
WWDC '17: First look at Apple's new iMac Pro
WatchOS 4 Revealed: Dynamic Apple Watch Faces, Workout App, etc.
Watch a trailer for Neill Blomkamp's mysterious project, Oats Studios
AMD's Threadripper struts onstage with Radeon RX Vega and a big surprise
Hyundai Motor Q1 net plunges 21% on weak China sales
28 April 2017, 01:05 | Muriel Sparks
Speaking about the brand-new plant, Han-Woo Park, president, Kia Motors, said that the new facility will not only provide greater flexibility for Kia's global business but also help sell cars in India, now the fifth largest market in the world. Kia Motors will subsequently also produce other models, which includes its global high-volume hatchbacks - the Picanto and Rio.
Korean auto-maker Kia Motors in a press release has confirmed that the company has signed a memorandum of understanding (MOU) with the State Government of Andhra Pradesh, India to build a new manufacturing facility in Anantapur District.
Forecasts suggest that the country will become the third- largest auto market by the end of 2020.
In a major boost to automotive manufacturing in India, Korean company Kia Motors has made a decision to set up base in Andhra Pradesh with an investment of $1.1 billion.
"Worldwide demand for Kia cars is growing and this is our latest step towards becoming a leading global vehicle manufacturer", Park said.
SAIC, biggest vehicle maker in China, and France's PSA are also preparing for an India entry. "Based on what happened between China and Japan over a territorial dispute in the past, sales could recover around the end of the second quarter or beginning of the third quarter", said Chang Moon-su, an analyst from Kiwoom Securities.
It will break ground in the fourth quarter of this year. Ford bet big with new facilities in India two years ago and still has just a 3% market share. We also brought you some information about its likely product line-up, pricing and model positioning strategy. The site will also be home to a number of supplier companies' facilities. "It is the result of the anti-Korean sentiment that flared up within China since late February and some rivals that launched marketing to exploit the anti-Korean sentiment", said Koo Zayong, a vice president at Hyundai Motor.
Kia Motors' new factory will be spread over 536 acres (2.16 sq. kms) and will have a manufacturing operation that incorporates stamping, welding, painting and final assembly facilities.
Globally, Hyundai shares parts and vehicle underpinnings with Kia, which it acquired in 1998.
Trump's budget chief says money for border wall a must
It looks as though they're leaning toward the latter, which would result in an omnibus bill that's pretty friendly to Democrats. Four in 10 voters rated congressional Republicans as generally bad, with 38 percent saying the same of Democrats in Congress.
Easy choice: Browns CB Haden wants Garrett with No. 1 pick
With the need for a quarterback glaring, the Browns find themselves once again trying to find their franchise signal caller. How many trades did the Bears make during last year's draft? Still, there's only so much information to gather and analyze.
Tatas to bid to keep Taj Mansingh
The court also said that the blemish-free record of IHCL may be taken into account by NDMC while auctioning the iconic property. Meanwhile, in a bid to create transparency in the bidding process, the NDMC will conduct an e-auction of the hotel.
Spicer defends White House's lack of transparency
Be proactive - Use the "Flag as Inappropriate" link at the upper right corner of each comment to let us know of abusive posts . But after being sued, it voluntarily began disclosing the logs in December 2009, posting records every three to four months.
Christian Dior Couture bought by LVMH for US$7 billion
Revenue at Christian Dior has doubled over the last five years, as profitability has soared during the same timeframe. LVMH will pay 260 euro per share and shareholders can choose to be paid in cash or to get Hermes shares in return.