South Korea’s Kia will produce and sell fully electric vehicles in Mexico, managing director for the company Horacio Chavez said on Wednesday. The car manufacturer will invest $649 million in Mexico, Chavez added during President Claudia Sheinbaum’s daily press conference.
The electric EV3 model is currently manufactured in South Korea, but starting August 4, production will begin at a Kia plant in the Mexican state of Nuevo Leon, Economy Minister Marcelo Ebrard said.
“It’s an investment made to adjust the production line, so the same plant continues to be used,” Chavez added.
“A significant portion is intended for the domestic market,” Sheinbaum said about the nationally produced car, as the government aims to promote the adoption of electric vehicles in Mexico.
Ebrard added that, amid growing protectionism from the United States — Mexico’s largest trading partner — the Latin American country is seeking out other markets and bringing in new technologies, such as Kia’s batteries and electric vehicles, in order to reduce imports.
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