KIA Invests $649 Million in Mexico for Electric Vehicle Production

Mexico's automotive industry is set to receive a significant boost with a $649 million investment from KIA, aimed at producing an electric vehicle at the company's plant in Pesquería, Nuevo León. The announcement was made by Economy Secretary Marcelo Ebrard as part of the government's "Plan México" initiative.

This investment is projected to generate 500 new jobs in the current year, with a further 1,500 direct employment opportunities anticipated between 2028 and 2030. Ebrard emphasized that the investment underscores Mexico's attractiveness for global manufacturers, particularly in the burgeoning field of electromobility, during a period of global uncertainty in the automotive sector.

Andy Kim, CEO of KIA Mexico, expressed confidence in the country's potential, stating that KIA sees Mexico as a key location for productivity and investment. Horacio Chávez, KIA Mexico's commercial director, detailed that the new electric vehicle represents a "new generation of mobility" designed for Mexican families, combining innovation, safety, and technology. The initiative also includes the development of charging solutions for homes and public spaces, further supporting the transition to cleaner energy in transportation.