Automotive News is reporting that Kia has announced plans to focus its efforts on building quality products instead of expanding its current line to fill every niche or broadening its manufacturing capabilities. The company's co-CEO, Lee Sam-ung, said that Kia doesn't plan to build any new manufacturing facilities any time in the near future. That news came in the face of concerns that limited production capability may hinder future growth, but Sam-ung said that global demand for vehicles is expected to subside soon.
In order to remain competitive, Kia will launch new models, strengthen its local promotions and work to enhance the company's competitiveness, Sam-ung said while at the launch of the 2012 Rio. Meanwhile, the executive also indicated that Kia still intends to launch two new electric vehicles, one in 2014 and another in 2015.