According to a report by Maeil Business News Korea, Kia is considering building its first ASEAN production facility in Thailand which will have an annual capacity of 250,000 vehicles.
Citing multiple sources within the Thailand automotive industry, the news outlet says Kia is currently in talks with the local government on the new factory, with an investment deal expected to be signed later this year. If built, the Kia facility in Thailand would be the South Korean carmaker’s first venture into building a new overseas plant in years after the completion of its factory in India in 2018.
In addition to sites in its home country and India, Kia also has production facilities in China, Mexico, Slovakia, the United States – the Thailand factory would be its sixth global production base outside of South Korea.
Hyundai Motors, which is Kia’s bigger sibling, already started local production in Indonesia last year, and the parent company to both, Hyundai Motor Group, views Indonesia and Thailand as markets with potential for growth and high volume.
Data from the ASEAN Automotive Federation revealed that in the first half of 2023, Indonesia was the leader in terms of sales with 505,985 units (up 6.5% YoY), followed by Thailand with 406,131 units (down 5% YoY) and Malaysia with 366,037 units (up 10.3%).
* This article was originally published here
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