Kia considering new plant in Mexico
Kia has announced that Mexico is under consideration as a potential location for the South Korean brand's next overseas plant.
"Kia Motors Corp. is currently evaluating various options for the establishment of a new overseas manufacturing plant in order to secure future growth for the brand," Kia said in a statement. "As a part of these efforts, and to better cope with the ongoing supply shortage situation in the Americas region, Mexico is being considered as a possible location of our next overseas production facility."
With many of Kia and affiliate Hyundai's existing plants running at or above capacity, the companies are under pressure to add new production facilities.
Hyundai chairman Chung Mong-koo had implemented an output freeze in 2012 in order to focus on improving quality instead of continuing growth, but it now appears as though a new wave of factories could be on the horizon.
Earlier reports had suggested that Kia is eyeing Monterrey, Mexico, for the new plant, which would have an annual capacity of 300,000 units, but Kia has refused to confirm the potential site or capability of the factory.
"If and when a final investment decision is made, we will make a formal announcement and provide details of the investment plan at that time," Kia said.
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