Park Han-woo, CEO, Kia Motors has expressed the company's need to set up a factory in India. Apart from gaining good growth benefits here, the move may also help the company offset slowing sales in Russia and China. As per industry data released by IHS, India is likely to emerge as the world's largest automaker sometime by next year. Till now Kia Motors, an affiliate of Hyundai Motor company does not have its own production facility in India. Moreover, high import taxes that would be applicable when importing Kia's vehicles in the country has indeed badly affected the brand's sale in India.
Speaking more on the occasion, Park Wan-hoo has also been the former head of Hyundai Motors India, said, “While growth in Russia or China is stagnating, India is where Kia will ultimately make a leap forward.” As for now, the Kia spokesperson has said to sources, “no current plan to build a new factory in India or enter the market. The sources have also hinted that Kia has also been working on building a rival to Toyota motor's Prius hybrid cars. The company has however declined to comment on this and has stated that they plan to roll out dedicated hybrid model this year.
Source: Dong-A Ilbo
