Brewbaker Kia Montgomery Al– Kia Motor Corporation (Hangul: 기아자동차; Hanja: 起亞自動車, IPA: [ki.a], lit. ”Kia automobile”; stylized as KIΛ), headquartered in Seoul, is South Korea’s second-largest automobile manufacturer, later the Hyundai Motor Company, gone sales of more than 3.3 million vehicles in 2015. As of December 2015, the Kia Motor Corporation is minority owned by Hyundai, which owns a 33.88% stake valued at just more than US$6 billion. Kia in point is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% stirring to 45.37%, accumulation more than US$8.3 billion.
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Kia was founded in December 1944 as Kyungsung precision Industry, a manufacturer of steel tubing and bicycle parts, eventually producing Korea’s first domestic bicycle, the Samchully, in 1951. In 1952, Kyungsung truth Industry misrepresented its herald to Kia Industries, and later built Honda-licensed small motorcycles (starting in 1957), Mazda-licensed trucks (1962) and cars (1974). The company opened its first integrated automotive assembly plant in 1973, the Sohari Plant. Kia built the little Brisa range of cars until 1981, taking into account production came to an end after the supplementary military dictator Chun Doo-hwan enforced industry consolidation. This annoyed Kia to meet the expense of happening passenger cars and focus no question upon lively trucks. Prior to the annoyed 1981 shutdown, Kia rounded out its passenger car lineup in imitation of two additional foreign models assembled below license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when abandoned 26 cars were manufactured, followed by over 95,000 the next year), Kia rejoined the automobile industry in partnership bearing in mind Ford. Kia produced several Mazda-derived vehicles for both domestic sales in South Korea and for export into new countries. These models included the Kia Pride, based upon the Mazda 121, and the Avella, which were sold in North America and Australasia as the Ford Festiva and Ford Aspire.In 1992, Kia Motors America was incorporated in the joined States. The first Kia-branded vehicles in the allied States were sold from four dealerships in Portland, Oregon, in February 1994. previously then, Kia logically expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the allied States segment expanded their descent considering the auxiliary of the Sportage. more than one hundred Kia dealerships existed across thirty states by 1995, selling a tape 24,740 automobiles.
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However, during the Asian financial crisis, Kia stated bankruptcy in 1997; and in 1998 reached an consent later than Hyundai Motor Company to diversify by exchanging ownership between both companies. Hyundai Motor Company acquired 51% of the company, outbidding Ford Motor Company which had owned an combination in Kia Motors previously 1986. After subsequent divestments, Hyundai Motor Company owns more or less one third of Kia Motor Corporation. though Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company along with retains ownership in some 22 alternative Hyundai Motor Company subsidiaries. back 2005, Kia has focused upon the European market and has identified design as its “core vanguard layer engine”leading to the hiring of Peter Schreyer in 2006 as chief design official and his subsequent launch of a additional corporate grille known as the ‘Tiger Nose’. In October 2006, Kia Motors America broke arena for Kia Motors Manufacturing Georgia in West Point, Georgia, representing a $1 billion USD investment for the company. Kia Motors Manufacturing Georgia opened in February 2010, after Kia recorded its 15th consecutive year of increased U.S. promote share. In August 2014, the company normal international attention with Pope Francis of the Catholic Church rode in one of their compact cars, the Kia Soul, during a five-day visit to South Korea. The Kia Soul drew augmented attention than two supplementary vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile welcoming ceremony of his dawn at the Seoul landing field upon 14 August. In 2016, Kia Motors model reliability was ranked first in the united States by J.D. facility and Associates, becoming the first non-luxury automaker back 1989 to top that list.