Key facts
- Kia will invest $649 million to produce and sell electric vehicles in Mexico.
- Production of the EV3 model is set to begin in Nuevo Leon on August 4.
- The initiative aims to increase domestic EV production in Mexico.
- The move is partly a response to U.S. protectionist trade policies.
South Korean automaker Kia announced it will invest $649 million to produce and sell fully electric vehicles in Mexico, according to managing director Horacio Chavez. The announcement was made during President Claudia Sheinbaum's daily press conference. Production of the EV3 model is scheduled to commence in Nuevo Leon on August 4. A substantial portion of these vehicles is intended for the domestic Mexican market, as the country seeks to decrease imports amidst prevailing U.S. protectionist trade measures.