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  1. #1
    Atomic Punk
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    10.21.16 @ 05:54 AM
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    Default No. 2 Korean automaker to build first U.S. factory

    Kia Motors has one eye on the surging won and the other eye on the competition.
    March 12, 2006: 8:41 PM EST
    SEOUL, South Korea (Reuters) - Kia Motors Corp., South Korea's second-largest automaker, said on Monday it would invest $1.2 billion building its first U.S. factory in the state of Georgia.

    Kia is seeking ways to move more production abroad in order to shield itself from a surging won currency and also grab a bigger share of the U.S. market.

    The firm also said in a statement it expected its sales in North America, including the United States and Canada, to rise 15 percent to 350,000 vehicles in 2006 and to grow to 800,000 by 2010.

    The carmaker expects the new plant, which will begin production in 2009, to produce up to 300,000 vehicles a year and employ about 2,500 workers.

    Analysts have said overseas production is key for the growth of Kia as a strengthening won undercuts profits earned abroad. The won has risen 3.2 percent against the U.S. dollar so far this year, compared to a 2.7 percent gain for all of 2005.

    Kia's plant in Georgia will be located in West Point on the western edge of the state.

    The firm is also expanding production to Europe where Kia is set to open a plant in Slovakia later this year to produce 200,000 mid-sized cars a year by 2008, a total that will rise to 300,000 in 2009. Kia also has a plant in China.

    Hyundai Motor Co., an affiliate of Kia and South Korea's top car maker, opened its first U.S. plant in Alabama last year.

    Shares in Kia rose more than 2 percent, outpacing a 1 percent gain in the broader market.

    GM is recalling 900,000 pickup trucks. Full story.
    "Watch what people are cynical about, and one can often discover what they lack. -- Gen. George S. Patton

  2. #2
    Atomic Punk ZeoBandit's Avatar
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    10.21.16 @ 11:52 AM
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    I can't stand Kias. There is something about them that just irritates the hell out of me......

    However, they do have awesome warranties!
    Last edited by ZeoBandit; 03.13.06 at 04:47 AM.
    "What we are dealing with here, is a complete lack of respect for the law" - Jackie Gleason, Smokey and the Bandit - The site where you are the search engine.

  3. #3
    Romeo Delight AUGuy5150's Avatar
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    05.13.12 @ 09:43 PM
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    west point is such a shitty little town.



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