Kia Motors To Open New Factory In Mexico
Kia Motors is opening a major car factory in Mexico. Production at the plant will start sometime in 2016.
The South Korean auto maker Kia said it plans to spend about $1 billion on the new car factory that will be built in the Mexican state of Nuevo Leon, across the border from Texas.
The plant will produce about 300,000 cars each year.
The Associated Press reports some other car companies also are planning to expand or build new factories in Mexico.
Last month, Germany's BMW said it would spend $1 billion on a new luxury-car factory in San Luis Potosi state that would start production in 2019.
BMW officials said the move is part of an effort to expand the company's presence in the United States.
BMW's announcement comes a week after Daimler and Renault-Nissan said they would spend about $1.5 billion on a factory in Mexico to make premium compact cars for the Infiniti and Mercedes brands.