[Global Network Comprehensive Report] According to the Yonhap News Agency on the 14th, South Korea’s second-largest automaker Kia Corporation said on the 13th that due to the continued decline in sales in China, this month will close one of the three factories in China.
Kia has three auto manufacturing plants in Yancheng, Jiangsu, with a total capacity of 890,000 units. A Kia spokesperson said that one of the factories will be leased by partner Dongfeng Yueda for a long time. The production of the lion running the car and the domestic KX7 SUV will be produced by the end of this month. Dongfeng Yueda will begin to produce electric vehicles at the plant in the first half of 2021.
Kia Motors said the plant has an annual production capacity of 140,000 units and about 1,000 employees were transferred to a second plant in Yancheng.
In May of this year, Kia’s sales in China were 23,170 units, down 24% year-on-year, mainly due to the lack of new models and declining market demand. Kia plans to sell 430,000 vehicles in China in 2019.
Post time: Jun-18-2019