HomeOther Energy Applications ›Kia Motors to Construct New EV Plant in Mexico to Invest USD 1 Billion

Kia Motors to Construct New EV Plant in Mexico to Invest USD 1 Billion

The plant is affirmed to manufacture two models - the K3 sedan and the subcompact Pride; and produce 400,000 units on average a year.

May 17, 2023. By EI News Network

Auto manufacturer Kia will build a new electric vehicle (EV) plant in northern Mexico.

In the year 2016, Kia opened a 3 million-square-foot plant in Pesqueria, near Monterrey, Nuevo Leon, which also has spaces for education and testing centers.

The plant is affirmed to manufacture two models - the K3 sedan and the subcompact Pride—and produce 400,000 units on average a year.

A new EV plant, which is anticipated to be constructed near the current facility, will permit Kia to become eligible for federal subsidies under the Inflation Reduction Act (IRA), which gives up to USD 7,500 in tax credits to purchasers of EVs assembled in the locations including US, Mexico, and Canada.

Kia Motors’ objective is to make more time for consumers so that they can concentrate on what they feel inspired to do and aspire to do in life.

The company was established in the year 1944, has been running the auto vehicle industry all over the world. The company is based in South Korea.

The company is about creating sustainable transportability solutions for consumers, improving the community and outreach to the global society.
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