Mar. 2, 2012 (China Knowledge) - South Korean-based Kia Motors' Chinese joint venture, Dongfeng Yueda Kia, plans to start construction on its third plant in Yancheng Economic & Technological Development Zone
Province, in the first half of this year.
The new facility, which is designed to have an annual output capacity of 300,000 passenger vehicles, is expected to bring the JV's total capacity to approximately 800,000 units per year and will introduce a new model Dianyue.
The JV's first and second plants are both located in Yancheng
Dongfeng Yueda Kia sold more than 430,000 passenger vehicles last year and targets 480,000-vehicel sales for 2012.
In the first two months of 2012, the JV produced 72,905 autos, up 21.8% from a year earlier, and its sales increased by 12.3% year on year to 71,709 vehicles.
Last year, the JV added the new K2 and K5 models to its product line up, which already includes the Forte, Sportage, Sportage-R, Soul and Cerato, said a person familiar with the matter.