Jan 4: With the Indian economy at an inflection point, automotive company Kia Motors India (KMI) has lined up big plans for the country. This was revealed by Kookhyun Shim, the new MD & CEO of KMI.
Shim has been appointed the new Managing Director and Chief Executive Office of the company, and will be responsible for driving Kia Motors’ expansion in the Indian market.
Statng that he is excited to work in an emerging market that’s forecasted to become the third largest globally by 2021, Shim said, “India is a crucial market for all global automotive brands, and I aim to replicate the success that Kia has seen in many other major markets. Kia’s brand slogan, ‘The Power to Surprise’, will be present in everything we do here.”
Shim will play a leading role in ensuring KMI’s projected timeline and schedule of operations is achieved. He will also oversee the construction of Kia Motor’s first manufacturing facility in India, to help strengthen the company’s position in the fifth largest global automotive market. Kia’s future development in the Indian market will be supported by a US$ 1.1 billion investment, said a KMI statement.
“We are delighted to announce the appointment of Kookhyun Shim as MD & CEO for India,” commented Han-Woo Park, President at Kia Motors Corporation. “We recognize India as a major market with huge potential for our world-class cars. We are confident that Shim’s leadership will provide the direction we need to grow our presence in what is one of the world’s biggest new car markets.”
It was in April 2017 that Kia Motors had inked a memorandum of understanding (MoU) with Andhra Pradesh government to build a new manufacturing facility in Anantapur District. The new manufacturing facility is expected to begin production in the second half of 2019 and produce approximately 300,000 units per year.