Aiming to expand its presence in the world’s biggest car market, Kia is taking a tip from its parent company, Hyundai Motor, which already builds cars in the US. Kia has indicated that the US plant would probably produce sport utility vehicles, as Hyundai produces medium-sized sedans at its 300,000-car capacity plant in Montgomery, Alabama.
Kia has also indicated that it plans to produce 130,000 cars at its Chinese joint venture in eastern China this year and 200,000 units a year in the northern Slovakian city of Zilina, from 2006.
VOLVO PLANS MAJOR INVESTMENT IN POLAND:
Volvo, the Swedish truck and machinery group, is planning to invest $8m to create an accounting and IT system centre in Wroclaw, Poland.
TOYOTA TO EXPAND BELGIAN PARTS FACILITY:
Japan’s Toyota Motor Corporation has announced it will invest an estimated €15m to expand its European parts centre in Diest, Belgium, to ensure the continued prompt delivery of service parts and accessories across Europe.
RENAULT TO BUILD FACTORY IN ROMANIA:
French car maker Renault SA says it plans to invest €215m in a new gearbox factory in Romania, which will employ 650 staff and take its annual sales generated in the country over the €2bn mark.
BMW PLANS ASSEMBLY UNIT IN INDIA:
German luxury car maker BMW is seeking approval to set up a venture to assemble and sell its luxury cars in India.