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Market Chatter: Kia to Invest $649 Million to Produce, Sell EVs in Mexico

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Kia (KRX:000270) plans to invest $649 million in Mexico for the production and sale of fully electric vehicles in the country, Reuters reported Wednesday, citing managing director Horacio Chavez.

The automaker's EV3 production is set to begin at its Nuevo Leon plant on Aug. 4, the report said, Mexican Economy Minister Marcelo Ebrard reportedly said.

Shares of Kia fell nearly 1% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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