Kia picks Georgia for first U.S. plant

[MikeMike]

Kia picks Georgia for first U.S. plant

SEOUL (Reuters) -- Kia Motors Corp. said it would invest $1.2 billion building its first U.S. factory in Georgia. The site is in West Point, in Troup County, on the western edge of the state.

Kia is seeking ways to move more production abroad in order to shield itself from a surging won currency and also grab a bigger share of the U.S. market.

The firm also said in a statement it expected its sales in North America, including the United States and Canada, to rise 15 percent to 350,000 vehicles in 2006 and to grow to 800,000 by 2010.

Kia's U.S. sales totaled 275,851 units in 2005, up 2.1 percent from 2004, according to the Automotive News Data Center.

The carmaker expects the new plant, which will begin production in 2009, to produce up to 300,000 vehicles per year and employ about 2,500 workers.

Analysts have said overseas production is key for the growth of Kia as a strengthening won undercuts profits earned abroad.

The won has risen 3.2 percent against the U.S. dollar so far this year, compared to a 2.7 percent gain for all of 2005.

The firm is also expanding production to Europe where Kia is set to open a plant in Slovakia later this year to produce 200,000 mid-sized cars a year by 2008, a total that will rise to 300,000 in 2009. Kia also has a plant in China.

Hyundai Motor Co., an affiliate of Kia and South Korea's top carmaker, opened its first U.S. plant in Alabama last year.

http://forums.vwvortex.com/zerothread?id=2495902

 

[blustori]

Can I get the source of this article?
There it is...

 

[EatSpam]

:thumbsup:

 

[Pepsi90919]

Originally posted by: blustori
Can I get the source of this article?
There it is...

if you click the link it says AutoNews.

 

[Queasy]

That's good news since GM is closing at least one of their plants in Georgia in the next couple of years.

 

[ponyo]

Good. Georgia needed this with the announced Ford plant closure in Hapeville and GM plant in Doraville.

 

[bigrash]

:thumbsup:

 

[dartworth]

They need to build these plants near me so I can get some work

 

[FreshPrince]

great...more polution for GA

 

[Queasy]

Originally posted by: FreshPrince
great...more polution for GA

Ehhh....a Ford and GM plant closing down, a Kia plant and another manufacturer plant opening too = pretty much a wash in terms of pollution. Actually it may be better given that 1) New plants are likely not going to produce as much pollution as older plants and 2) These plants are in more rural areas where any pollution would be lesss concentrated.