Keystone 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, gone the Hyundai Motor Company, bearing in mind sales of higher 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 greater than US$6 billion. Kia in twist is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% happening to 45.37%, tallying more than US$8.3 billion.
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Kia was founded in December 1944 as Kyungsung truth Industry, a manufacturer of steel tubing and bicycle parts, eventually producing Korea’s first domestic bicycle, the Samchully, in 1951. In 1952, Kyungsung correctness Industry misrepresented its read out to Kia Industries, and progressive built Honda-licensed little motorcycles (starting in 1957), Mazda-licensed trucks (1962) and cars (1974). The company opened its first integrated automotive assembly forest in 1973, the Sohari Plant. Kia built the small Brisa range of cars until 1981, in the same way as production came to an stop after the new military dictator Chun Doo-hwan enforced industry consolidation. This goaded Kia to pay for occurring passenger cars and focus definitely upon spacious trucks. Prior to the provoked 1981 shutdown, Kia rounded out its passenger car lineup as soon as two extra foreign models assembled under license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when and no-one else 26 cars were manufactured, followed by greater than 95,000 the bordering 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 additional 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 united States. The first Kia-branded vehicles in the allied States were sold from four dealerships in Portland, Oregon, in February 1994. previously then, Kia critically expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the allied States segment expanded their parentage in the manner of the addition of the Sportage. higher than one hundred Kia dealerships existed across thirty states by 1995, selling a photo album 24,740 automobiles.
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However, during the Asian financial crisis, Kia avowed bankruptcy in 1997; and in 1998 reached an taking office next Hyundai Motor Company to diversify by exchanging ownership together with both companies. Hyundai Motor Company acquired 51% of the company, outbidding Ford Motor Company which had owned an incorporation in Kia Motors previously 1986. After subsequent divestments, Hyundai Motor Company owns practically one third of Kia Motor Corporation. even if Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company also retains ownership in some 22 stand-in Hyundai Motor Company subsidiaries. in the past 2005, Kia has focused upon the European puff and has identified design as its “core vanguard enlargement engine”leading to the hiring of Peter Schreyer in 2006 as chief design official and his subsequent instigation of a further corporate grille known as the ‘Tiger Nose’. In October 2006, Kia Motors America broke 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. announce share. In August 2014, the company customary 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 improved attention than two supplementary vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile within reach ceremony of his arrival at the Seoul landing field upon 14 August. In 2016, Kia Motors model reliability was ranked first in the allied States by J.D. capacity and Associates, becoming the first non-luxury automaker back 1989 to summit that list.