SEOUL, Apr 26: Kia Motors Corp’s Chief Financial Officer reiterated on Friday that the South Korean automaker has no plan to construct new plants in the near term, though it has been ‘studying’ the possibility of expanding capacity.
‘We feel the need (for more capacity) … But we have no plan to expand production capacity for now,’ Park Han-woo said during an earnings conference.
‘Instead, we will focus more on quality and consumer satisfaction,’ he said.
A South Korean newspaper said on Wednesday that Kia Motors, an affiliate of Hyundai Motor may build a new plant in the United States by 2014 to ease a capacity shortage that has put a brake on its stellar sales growth in a key market.
Kia denied that report.
(AGENCIES)
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