Deacon Jones Kia– 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, in the manner of the Hyundai Motor Company, taking into account sales of beyond 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 higher than US$6 billion. Kia in incline is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% occurring to 45.37%, toting up more than US$8.3 billion.
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Kia was founded in December 1944 as Kyungsung exactness 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 changed its declare to Kia Industries, and progressive built Honda-licensed small motorcycles (starting in 1957), Mazda-licensed trucks (1962) and cars (1974). The company opened its first integrated automotive assembly reforest in 1973, the Sohari Plant. Kia built the small Brisa range of cars until 1981, taking into account production came to an end after the extra military dictator Chun Doo-hwan enforced industry consolidation. This motivated Kia to pay for stirring passenger cars and focus no question upon buoyant trucks. Prior to the motivated 1981 shutdown, Kia rounded out its passenger car lineup with two other foreign models assembled below license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when deserted 26 cars were manufactured, followed by on top of 95,000 the next-door year), Kia rejoined the automobile industry in partnership considering Ford. Kia produced several Mazda-derived vehicles for both domestic sales in South Korea and for export into further countries. These models included the Kia Pride, based on 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 associated States. The first Kia-branded vehicles in the allied States were sold from four dealerships in Portland, Oregon, in February 1994. previously then, Kia rationally expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the associated States segment expanded their lineage similar to the auxiliary of the Sportage. over one hundred Kia dealerships existed across thirty states by 1995, selling a book 24,740 automobiles.
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However, during the Asian financial crisis, Kia acknowledged bankruptcy in 1997; and in 1998 reached an attainment in the manner of Hyundai Motor Company to diversify by exchanging ownership in the company of both companies. Hyundai Motor Company acquired 51% of the company, outbidding Ford Motor Company which had owned an amalgamation in Kia Motors since 1986. After subsequent divestments, Hyundai Motor Company owns approximately one third of Kia Motor Corporation. even if Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company then retains ownership in some 22 exchange Hyundai Motor Company subsidiaries. in the past 2005, Kia has focused upon the European market and has identified design as its “core later layer engine”leading to the hiring of Peter Schreyer in 2006 as chief design governor and his subsequent commencement of a extra corporate grille known as the ‘Tiger Nose’. In October 2006, Kia Motors America broke showground 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. present share. In August 2014, the company standard international attention gone 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 greater than before attention than two extra vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile open ceremony of his beginning at the Seoul airport on 14 August. In 2016, Kia Motors model reliability was ranked first in the joined States by J.D. capability and Associates, becoming the first non-luxury automaker back 1989 to summit that list.