Kia to Produce and Sell EVs in Mexico with 940 Billion Won Investment

Kia is investing 649 million dollars (940 billion won) in Mexico for electric vehicle production, renewable energy, and the establishment of charging infrastructure.

Horacio Chavez, head of Kia Mexico, announced this during a regular press conference held by Mexican President Claudia Sheinbaum yesterday, local time.

Kia plans to remodel the production line at its plant in Pesqueria, Nuevo Leon, to manufacture the compact electric SUV 'EV3'.

The production line will go into full operation starting August 4.

Through this project, 500 jobs are expected to be created this year, with an additional 1,500 direct jobs generated between 2027 and 2030.

Chavez stated, "We remodeled the production line to make full use of our existing plant. By becoming the first to produce and sell Mexican-made electric vehicles, we will strengthen Mexico's industrial and technological capabilities."

Mexican Economy Minister Marcelo Ebrard, who attended the press conference, said, "The local parts localization rate for the 'EV3', which was previously produced entirely in South Korea, will start at 27 percent in Mexico and gradually expand." He praised Kia's trust in Mexico amid uncertainties in international trade.

In addition to electric vehicles, Kia is also investing in the construction of a solar power plant within the Pesqueria industrial complex and the establishment of charging infrastructure in public spaces.

Mexican President Claudia Sheinbaum also emphasized that this announcement demonstrates global companies' trust in Mexico.

Sheinbaum stated, "Kia's investment shows confidence in our country," adding that a significant portion of the electric vehicles produced will be supplied to the domestic market in Mexico.
※ Please note: This article was translated by AI and may contain errors.