- Kia and Aymesa signed MOU for further KD business in Ecuador,
- Start assembling Rio from December 2002.
On March 26, Kia and its local partner Aymesa of Ecuador signed a MOU for local assembling of the Rio. By 2002, Aymesa will complete its facilities in Quito, the country’s capital city, and start production of the compact car Rio in addition to Sportage, which is already being produced in Ecuador. Consequantly, Kia will have annual production of 10,000 cars (7,000 Rios and 3,000 Sportage).
A prestigious carmaker in the South American country, Aymesa has been in cooperative relations with Kia since October 2000. In 2001, Aymesa imported a total of 3,298 Kia cars including KD.
Recently, Ecuador’s Trade Minister Ricardo Moss visited Kia’s factory in Hwasung near Seoul, Korea. Mr. Moss said, “I was impressed by the enormous size of the factory. Everything was orderly, neat and clean. The hard-working employees, particularly, caught my eyes.”
The Ecuadorian market is worth about 100,000 cars per year, with compact cars and SUVs doing particularly well. Kia’s Sportage was the best selling car in the country in 2001.
Kia Motors plans to boost sales in that country to 4,250 in 2002 and take more aggressive sales actions for compact cars and SUVs in close cooperation with Aymesa.