Kia Motors, Seoul-based South Korea’s second largest automobile manufacture had been seeking to stall productions at its top manufacturing plant in China, as a part of its long-term efforts to amplify competitiveness, a spokesman familiar with the subject matter revealed on Sunday, the 10th of March 2019.
Following the reveal of Kia Motors’ latest attempt revamp its auto operations, the South Korean carmaker had issued a statement later on Sunday (March 10th) saying that the company had been reviewing multiple plans for ramping up production and improving competitiveness over Chinese market.
However, the auto makers had been hammered hard in the past eight months over a wide-ranging tariff abrasion that whacked over trillions of US dollars, hurting mostly car making and agricultural industry.
Following US tariff hikes on Chinese-born products including autos, carmakers are either avoiding US markets, focusing more on China and Europe such as Tesla and GM, while some of the auto manufacturers had been betting on the contrary.
Never the less, the Kia Motors, an affiliate of Hyundai Motor, used to manufacture cars in a large-scale team up with Jiangsu Yueda Investment Co. Ltd. and Dongfeng Motor Group. Kia Motors has been running three manufacturing plants in Jiangsu province of China.
Apart from Kia Motors, the no. 1 South Korean auto maker, Hyundai, had also been considering options of halting productions at their oldest Chinese plant amid an excruciating tumble in the sales and an increased competition in the global auto industry.