Kia motors corp .said second- largest producer of cars in south Korea that it would istablish a new factory in China to defend its market share inin the largest fast-growing market in the world . the company has signed a Dongfeng Kia Motors a joint venture it runs with chinese companies singed an agreement with the local government of the city of Jan-Ing north east of the country to istablish a new factory. the company said that work on the plant will begin late next year and will reach an annual capacity of 300 thousand cars when completed in the second half of 2014 operates Kia a subsidiary of Hyundai motor co. the largest producer of cars in South Korea manufacturers in China with a production capacity combined 430 thousand cars and through two landmark projects involved ''Dongfeng Motor Group''and Jiangsu Investment hand .Kia siad in a statement that without a third plant Kia could lose mrket share from 5.3% currently in the largest market for cars in the world that the auto companies have competition now working to strengthen its manufacturing facilities in China . Group aims Hyundai -Kia to sell about 15.1 million vehicles in China this year .as it comes in the standings behind Germany's Volkswagen and General motors as the largest U.S auto company in china.
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