The signing took place in Mexico City on Wednesday (local time). Among those present at the ceremony was Mexican President Enrique Pena Nieto, Kia said.
The plant, capable of producing 300,000 vehicles a year, will be built in Pesqueria, a city in the northern part of Mexico, at a total cost of US$ 1 billion, said Kia, the country’s second-largest automobile manufacturer affiliated with Hyundai Motor.
Construction will begin in September, and the plant is scheduled to start operations in 2016.
Currently, global automakers, such as GM, Volkswagen, Toyota and Nissan, run their own plants in Mexico, according to Kia.
reporter
Park Sae-jin
swatchsjp@ajunews.com
