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Kia Motors to make investment of 29 tln won in next 6 years

All News 10:12 January 14, 2020

SEOUL, Jan. 14 (Yonhap) -- Kia Motors Corp., South Korea's second-biggest carmaker by sales, said Tuesday it will invest 29 trillion won (US$25 billion) to develop future vehicle technologies in the next six years.

The investment will generate business opportunities in next-generation vehicles markets, improve profitability and help enhance shareholder value, the company said in a regulatory filing.

Kia aims to achieve an operating profit margin of 5 percent in 2022 and increase it to 6 percent in 2025 based on the investment, it said.

kyongae.choi@yna.co.kr
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