Kia to Build Its First Auto Factory in U.S.
By REUTERS
SEOUL, Monday, March 13 — The Kia Motors Corporation, South Korea's second-largest automaker, says it will invest $1.2 billion building its first American factory, in Georgia.
Kia is seeking ways to move more production abroad to shield itself from its surging currency and also to take a bigger share of the United States market.
Kia also said it expected its sales in the United States and Canada to rise 15 percent to 350,000 vehicles in 2006 and to grow to 800,000 by 2010.
The carmaker said Monday that it expected the new plant to begin production in 2009, employing about 2,500 workers and producing up to 300,000 vehicles a year. The plant will be located in West Point, on the western edge of the state.
The Hyundai Motor Company, the parent company of Kia and South Korea's top carmaker, opened its first United States plant in Alabama last year. |
