Kia Motors Corp. (000270) plans to invest 110 million euros ($147 million) in its Slovak factory this year as the South Korean carmaker is further boosting output in the east European country.
The amount compares with 200 million euros spent in 2011, the Zilina, Northern Slovakia-based company said in an e-mailed statement today. The carmaker wants to assemble a record 285,000 vehicles in Slovakia in 2012, up from 252,000 cars last year.
Kia produces Sportage sport-utility vehicles and cee’d and Venga cars in Slovakia. Last year, it also increased production of engines 12 percent to 359,000 units.
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