South Korean automaker Kia will build and sell a fully electric vehicle in Mexico as part of a $649 million investment, Kia Mexico Managing Director Hugo Chavez announced on Wednesday.
Speaking during President Claudia Sheinbaum’s daily press conference, Chavez said the investment will support the local production of the fully electric vehicle, marking another step in Kia’s expansion of electric vehicle manufacturing.
He said the company plans to invest $649 million in Mexico to strengthen its production operations, although he did not provide a timeline for the project or identify the electric vehicle model that will be built.
The announcement underscores Kia’s continued investment in electric mobility as automakers increase production of battery-powered vehicles to meet growing demand in global markets.
Goodness Anunobi
