Jt Kia Lexington Sc– 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, next the Hyundai Motor Company, as soon as 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 higher than US$6 billion. Kia in aim is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% going on to 45.37%, totaling more than US$8.3 billion.
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Kia was founded in December 1944 as Kyungsung accurateness Industry, a manufacturer of steel tubing and bicycle parts, eventually producing Korea’s first domestic bicycle, the Samchully, in 1951. In 1952, Kyungsung exactness Industry misrepresented its broadcast to Kia Industries, and superior 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, later production came to an end after the additional military dictator Chun Doo-hwan enforced industry consolidation. This forced Kia to allow taking place passenger cars and focus very on roomy trucks. Prior to the forced 1981 shutdown, Kia rounded out its passenger car lineup taking into account two extra foreign models assembled under license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when isolated 26 cars were manufactured, followed by on top of 95,000 the neighboring year), Kia rejoined the automobile industry in partnership taking into account 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 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 associated States. The first Kia-branded vehicles in the united 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 lineage similar to the auxiliary of the Sportage. higher than one hundred Kia dealerships existed across thirty states by 1995, selling a baby book 24,740 automobiles.
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However, during the Asian financial crisis, Kia acknowledged bankruptcy in 1997; and in 1998 reached an appointment considering Hyundai Motor Company to diversify by exchanging ownership amongst both companies. Hyundai Motor Company acquired 51% of the company, outbidding Ford Motor Company which had owned an incorporation in Kia Motors since 1986. After subsequent divestments, Hyundai Motor Company owns more or less one third of Kia Motor Corporation. even though Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company as well as retains ownership in some 22 different Hyundai Motor Company subsidiaries. back 2005, Kia has focused on the European broadcast and has identified design as its “core future increase engine”leading to the hiring of Peter Schreyer in 2006 as chief design commissioner and his subsequent opening of a additional corporate grille known as the ‘Tiger Nose’. In October 2006, Kia Motors America broke sports ground 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 acknowledged international attention once 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 additional vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile reachable ceremony of his arrival at the Seoul landing field on 14 August. In 2016, Kia Motors model reliability was ranked first in the allied States by J.D. faculty and Associates, becoming the first non-luxury automaker before 1989 to top that list.