Kia, a South Korean company, is working on a plan to set up a factory at a cost of $ 1.1 billion or around Rs 7,000 crore in India.
The company here can manufacture SUVs and sedans in the market by the end of 2019. Kya Motors is part of the Hyundai Group.
The company recently signed an agreement with Andhra Pradesh Government to set up a plant in Anantapur district.
A statement issued by the company said that it will be its first unit in India, which is about $ 1.1 billion to be invested.
The construction of the plant will begin in the last quarter of this year. Its production capacity will be three lakh vehicles annually and production is expected to start from the second half of 2019.
"We are happy to tell that the e-manufacturing unit will be in Andhra Pradesh," said Han Motu's president Han Wu Park.
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