In 2014, Kia Motors announced a US$2 billion investment in Nuevo Leon, to produce up to 300,000 vehicles by 2016 in the new plant in the Municipality of Pesqueria. Their expectation is to export 80% of vehicles manufactured in Mexico.
Kia Motors Mexico will be the fourth plant of the firm. The Georgia plant will produce the Soul line, and Mexico´s plant will produce subcompact and compact models. The 300,000-unit production goal for 2016 represents nearly 10% of total vehicle production in Mexico. Mexico was selected to locate the plant because it is the gateway to Latin America, and specifically, Monterrey city due to its large auto parts sector, great human resources and a good logistics infrastructure. This plant will export the 80% of its production and 20% will be for the domestic market. Kia Motors will invest US$1 billion and their suppliers will invest the same amount. There are currently 45 Kia Executive Officers and 200 suppliers who came from Korea to oversee the plants’ construction.
Source: Negocios