Kia Motors to invest $1 billion in India

New Delhi: South Korean car maker Kia Motors said on Thursday it will build a new 1.1 billion plant in India, marking its entry into one of the world’s fastest growing markets as sales in neighbouring China have sagged.
Kia Motors said in a statement it would manufacture up to 300,000 cars a year at the new factory in the southern state of Andhra Pradesh, starting in late 2019.
Kia and its sister company Hyundai Motor have seen sales in China, the world’s biggest car market, hammered by the fallout from a diplomatic spat between Seoul and Beijing over a US missile defence system. — AFP