South Korea's Kia Motors is denying the report by Reuters that it is discussing with the Indian state of Tamil Nadu the possibility of moving a $1.1 billion plant out of neighboring Andhra Pradesh only months after it fully opened.
As per the reporting of Hans India, Manohar Bhat, Head (Sales & Marketing), Kia Motors India said 'The news report shocked us. It is shocking to see such a report when our plant in Andhra Pradesh is doing extremely well. It is the worst formation of imagination and concoction'.
Earlier in the day even Rajath Bhargava, Special Chief Secretary, Industries, Investments & Commerce, Andhra Pradesh said "News report of Kia Motors shifting from Andhra Pradesh is not true. KIA and the state government are working together. We strongly condemn the news."
The official statement from the Kia company is still awaited. Reuters for their part is sticking to their story.
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