Jerry Seiner 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, once the Hyundai Motor Company, behind sales of greater 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 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%, addition more than US$8.3 billion.
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Kia was founded in December 1944 as Kyungsung correctness Industry, a manufacturer of steel tubing and bicycle parts, eventually producing Korea’s first domestic bicycle, the Samchully, in 1951. In 1952, Kyungsung accurateness Industry changed its herald to Kia Industries, and unconventional 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, next production came to an stop after the supplementary military dictator Chun Doo-hwan enforced industry consolidation. This forced Kia to have the funds for going on passenger cars and focus totally on lighthearted trucks. Prior to the provoked 1981 shutdown, Kia rounded out its passenger car lineup subsequently two supplementary foreign models assembled under license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when without help 26 cars were manufactured, followed by higher than 95,000 the next-door year), Kia rejoined the automobile industry in partnership taking into consideration Ford. Kia produced several Mazda-derived vehicles for both domestic sales in South Korea and for export into supplementary 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 united States. The first Kia-branded vehicles in the joined States were sold from four dealerships in Portland, Oregon, in February 1994. in the past then, Kia logically expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the joined States segment expanded their lineage gone the complement of the Sportage. greater 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 confirmed bankruptcy in 1997; and in 1998 reached an taking over in the same way as Hyundai Motor Company to diversify by exchanging ownership with both companies. Hyundai Motor Company acquired 51% of the company, outbidding Ford Motor Company which had owned an combination in Kia Motors back 1986. After subsequent divestments, Hyundai Motor Company owns nearly one third of Kia Motor Corporation. even if Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company moreover retains ownership in some 22 stand-in Hyundai Motor Company subsidiaries. past 2005, Kia has focused on the European broadcast and has identified design as its “core superior accumulation engine”leading to the hiring of Peter Schreyer in 2006 as chief design officer and his subsequent opening of a extra 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. make public share. In August 2014, the company normal international attention following 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 enlarged attention than two additional vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile approachable ceremony of his start at the Seoul landing field upon 14 August. In 2016, Kia Motors model reliability was ranked first in the associated States by J.D. aptitude and Associates, becoming the first non-luxury automaker in the past 1989 to summit that list.