Kia Motors Corp. is in talks with Mexico to open a new auto assembly plant worth at least $1.5 billion, officials from Nuevo Leon’s state government said on Tuesday.
Rolando Zubiran, secretary of economic development in Nuevo Leon, said negotiations on the plant were under way and involved Nuevo Leon, the Mexican federal government and Kia, an affiliate of Hyundai Motor Corp.
“It’s more than $1.5 billion,” Zubiran said, referring to the planned investment. He added that Nuevo Leon hoped the deal would be concluded during the first two weeks of August.
The plant, which sources . . .