Kia Launches Gwangmyeong EVO Plant to Boost EV Production: Key Details

Kia Gwangmyeong EVO plant

Kia Electric Vehicle News 2024: The EV manufacturer is all set for the Kia EV production expansion as the company declares the opening of the Kia Gwangmyeong EVO plant. The official reports state that the factory is Hyundai Motor Group's first manufacturing plant which was used for the production of battery-powered vehicles.

The Gwangmyeong EVO plant launch and the production of the Kia EV3 are scheduled to begin in the first half of this year. Kia EV manufacturing plant is situated at Kia Autoland Gwangmyeong in the new South Korea with an annual production capacity of 150,000 units.

The company reported that it will also begin its EV4 production at the beginning of 2025.

Also Read: Fuel Rates Today On September 28: Check the Latest Petrol and Diesel Price in Your City

The company also reported in a statement that the Kia Gwangmyeong EVO plant was manufactured with an investment of KRW 401.6 billion and covers approximately 60,000 square meters which is perfect for the Kia EV production expansion.

While speaking about the Kia EV manufacturing plant, the executive Vice President and head of the Domestic Production Division at Kia, d Jun Young Choi said, “The completion of the Kia Gwangmyeong EVO Plant solidifies Kia’s first step as an EV leader following the company’s brand relaunch in 2021. With the goal of providing sustainable mobility solutions, we will lead innovation in the EV market and fulfill our responsibilities in helping to deliver a sustainable future.”

Also Read: Gold and Silver Rates Today On September 28: Check the Latest Gold Rates in Your City

However, the Mayor of Gwangmyeong City, Seung Won Park said, “The completion of the Kia Gwangmyeong EVO Plant will help Gwangmyeong City to establish itself at the center of the EV industry in Korea. Through this we will strive to promote sustainable development of the local economy and create more jobs.”

Kia Corporation is the largest multinational automobile manufacturer which was founded in May 1944. The South Korean-based company is the second largest automobile producer in South Korea and Ho Sung Song is the CEO and President of the company.

The company earning results ended on December 31, 2023, reported that the company made a net income of KRW 8,776,970 million against KRW 5,409,429 million a year ago period.

Also Read: 8 Silicon Valley CEOs Resign After Psychedelic Experiences, Viral Post Claims