/ Industry, Kia, News / Report – Kia is going to build a new factory in Mexico

Report – Kia is going to build a new factory in Mexico

Linked In Share
Report – Kia is going to build a new factory in Mexico

With a great business climate thanks to numerous commercial agreements and with low labor costs, Mexico has been the place to go for automakers aiming to establish new plants in the North American region.

According to sources that are directly implicated, South Korea’s Kia will follow suit on European and Asian manufacturers that have regional facilities in Mexico. The people, who declined to be identified ahead of the public reveal of the investment, said that Mexico’s president Enrique Pena Nieto should officially reveal the project later today. They also didn’t have specific information – such as the models that would come out of the production lines. They did reveal the investment would surpass the latest one – a 1 billion euros ($1.3 billion) factory project jointly developed by Daimler and Nissan.

“Having a Korean company enter Mexico will mean that practically all global automakers will be represented in the country,” said Armando Soto, president of Kaso y Asociados, a Mexico City-based auto industry consultant. “It will also trigger large investments from Korean auto-parts companies.”

The report is backed by Mexico’s Economy Ministry, which revealed in a statement yesterday that president Pena Nieto would be making an automotive related investment announcement today. The new factory should be built in the Nuevo Leon state, in Pesqueria, near Monterrey, added one of the sources.

Via Bloomberg

by Aurel Niculescu (my Google+) - Wednesday, August 27th, 2014 - filed under Industry, Kia, News. Image credit: .
Linked In Share
Related Articles
factory mexico report south korea


Discuss: Report – Kia is going to build a new factory in Mexico

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Caterham survival takes another step on Monday
Caterham survival takes another step on MondayDec.21 (GMM/Inautonews.com) The future of ailing F1 team Caterham will be decided on Monday. The backmarker team as well as ...
2015 Ford Mondeo arrives in Romania – short test drive inside
2015 Ford Mondeo arrives in Romania – short test drive insideFord Romania has introduced the fifth generation of the Mondeo in Europe, over a 2-day event which has gotten us, automotive ...
Ricciardo pace ‘a factor’ in Vettel exit – Horner
Ricciardo pace ‘a factor’ in Vettel exit – HornerDec.20 (GMM/Inautonews.com) Daniel Ricciardo's surprising pace was "probably a factor" in the decision taken by Sebastian Vettel ...
Ecclestone determined to change 2016 engine rules
Ecclestone determined to change 2016 engine rulesDec.20 (GMM/Inautonews.com) Bernie Ecclestone has confirmed reports he remains determined to shake up F1's engine rules. We ...
De la Rosa leaves Ferrari, Vergne signs up
De la Rosa leaves Ferrari, Vergne signs upDec.20 (GMM/Inautonews.com) Ferrari has confirmed speculation Pedro de la Rosa is vacating his test-driver post. It was ...
2016 CT6 Cadillac gets streaming rearview technology
2016 CT6 Cadillac gets streaming rearview technologyThe streaming video rearview technology will expand the driver’s vision in the upcoming 2016 CT6, eliminating any rear seat, ...
US: Ally gets out of 6 years bailout
US: Ally gets out of 6 years bailoutAlly Financial Inc. stated that it would finally resolve its bailout after the U.S. government will sell the last $1.25 billion ...
Daimler puts aside €600 million for EU antitrust investigation
Daimler puts aside €600 million for EU antitrust investigationThe Germany-based company, Daimler, stated on Thursday it is putting aside 600 million euros to cover any potential costs that ...
Renault-Nissan and AvtoVAZ merge into Russia’s biggest auto parts buyer
Renault-Nissan and AvtoVAZ merge into Russia’s biggest auto parts buyerAvtoVAZ and the Renault-Nissan alliance will come together in terms of purchasing activities in Russia. The merged unit will now ...
Report – Volkswagen will meet its 2017 cost-cutting goal
Report – Volkswagen will meet its 2017 cost-cutting goalVolkswagen CEO, Martin Winkerton, has said according to a source that the carmaker is on the right track to reach its goal of ...
GM’s bankrupt predecessor helps customers get the $10 billion compensation
GM’s bankrupt predecessor helps customers get the $10 billion compensationGeneral Motors customers gained a new friend in their run for the compensation worth $10 billion. The automaker’s bankrupt ...
F1 to have new engine rules in 2016 – report
F1 to have new engine rules in 2016 – reportDec.19 (GMM/Inautonews.com) F1 is now speeding towards yet another new set of engine regulations. On Thursday at a Geneva ...
GM and Jaguar Land Rover stopped deliveries to Russia
GM and Jaguar Land Rover stopped deliveries to RussiaIn response to the slide in the rouble’s value, automakers, General Motors and Jaguar Land Rover included, decided to stop ...
Uber wants to patent its gouging prices
Uber wants to patent its gouging pricesWhile critics accuse Uber of price gouging over the high fees asked in Sydney for the people who were fleeing a hostage crisis, ...
Ford closes Genk Plant in Belgium
Ford closes Genk Plant in BelgiumWith a production of around 14 million cars over the past 50 years, Ford shut the doors of its plant in Genk, Belgium just a day ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

2015 Ford Mondeo Hybrid 01
Mazda_tokyo_salon
audi_sound_Q7
hyundai_infotainment_carplay_android_auto
Rolls-Royce_Suhail
puritalia-4270
918_crash
Tacoma_teaser0
Ferrari_F12_PP
Lexus_F_teaser0
lamborghini aventador crash india 1
BMW M4 Coupe G-Power tuning 1

More automotive from inautonews
Ford Romania has introduced the fifth generation of the Mondeo in Europe, over a 2-day event which has gotten us, automotive journalists, through all versions, under the close indications of professional racing drivers from the Romanian Rally Championship (Napoca Rally Academy). A nice touch of ...
read more
Inautonews Editors Section
2015 Ford Mondeo arrives in Romania – short test drive inside
2015 Ford Mondeo arrives in Romania – short test drive insideFord Romania has introduced the fifth generation of the Mondeo in Europe, over a 2-day event which has gotten us, automotive journalists, through all ...
Test Drive: Ford Fiesta ST
Test Drive: Ford Fiesta ST The current generation of the Ford Fiesta ST has been officially presented to the public back in March, 2012, during the Geneva Motor Show, and it ...
Test Drive: Renault Twizy – Back to basics
Test Drive: Renault Twizy – Back to basics Renault has been producing the Twizy for a couple of years now, in its Valladolid, Spain, facility but spotting one on European roads can turn out ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety [Video] Swedish magazine says new Mondeo is heavier than claimed, could be illegal to drive fully loadedTeknikens Värld, a Swedish magazine that became (in)famous back in 1997 for coining the Mercedes ... Recall roundup: Ford vehicles for Takata airbag issue in the USFord Motor Co, the second-largest US automaker has decided to expand the recall of Takata-equipped ...
Safety Section