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    Economics Business Kazakhstan

    Kia Motors to build new auto parts manufacturing plant in Kazakhstan

    Kia Motors to build new auto parts manufacturing plant in Kazakhstan

    Kia Motors announced plans to construct an auto parts manufacturing facility in Kazakhstan, as detailed by Kia President Ho-sung Song during a meeting with Kazakh President Kassym-Jomart Tokayev on April 23. The Akorda press service reported this development.

    Photo: Ho-sung Song and Kassym-Jomart Tokayev
    Source: Akorda

    President Song revealed that Kia signed an agreement with global suppliers of automotive components to support this new venture. Additionally, he discussed the progress of a full-cycle car production plant set to be established in Kostanai by 2025.

    The project is expected to attract more than KZT 90 bn (approximately $203.7 mn) in investments. The plant is projected to create employment opportunities for 1,500 individuals, significantly contributing to the local job market.

    Once operational, the facility plans to manufacture 70,000 cars annually. Of these, 50,000 vehicles will be produced using the small-unit assembly method, which incorporates a higher share of local content, aligning with efforts to enhance the domestic automotive industry.

    President Tokayev expressed support for Kia’s initiative to localize auto component production in Kazakhstan. He highlighted the importance of training qualified domestic specialists to advance the automotive industry, noting that the development of this sector is a pivotal aspect of Kazakhstan’s industrial policy. 

     

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    24.04.2024, 14:30   Comments (0)   1558
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