Kia Motors Poised to Enter Indian Car Market
Kia is ready to expand its global empire even more so. The South Korean carmaker is officially entering the car market in India, which is a big play for the brand. The company, which already sells cars across the United States, Europe, China, and its home market of Korea, feels that India could contribute greatly towards the company’s sales gains, especially as it races towards becoming the third-biggest car market globally by 2020.
And Kia is starting off on the right foot in India. The brand is already scouting out land for its factory, while also looking at possible suppliers. According to The Times of India, one source has even said Kia might even use the factory to help its sister company Hyundai—which is already in the Indian market—produce some vehicles, too.
Kia’s plan to move into the Indian market doesn’t exactly come as a surprise, though. The brand has been talking about doing so for many years, but has refrained from making investments there until now. This is currently the perfect time for Kia to invest in such a large market due to the fact that many expansion projects, including one that involves the brand’s top-selling market China, are well underway, freeing up Kia’s money for more investments.
It might still be a couple years, though. If you consider the time it takes to build a factory, along with getting past a variety of clearances and permissions, the South Korean carmaker’s move into the Indian market won’t be a swift one.
News Source: The Times of India