Kia Downtown La– 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, subsequent to the Hyundai Motor Company, next sales of over 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 tilt is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% in the works to 45.37%, tallying 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 accurateness Industry misrepresented its make known to Kia Industries, and future 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 little Brisa range of cars until 1981, in imitation of production came to an end after the further military dictator Chun Doo-hwan enforced industry consolidation. This forced Kia to give taking place passenger cars and focus no question on vivacious trucks. Prior to the provoked 1981 shutdown, Kia rounded out its passenger car lineup next two extra foreign models assembled under license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when single-handedly 26 cars were manufactured, followed by higher than 95,000 the neighboring 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 allied States. The first Kia-branded vehicles in the joined States were sold from four dealerships in Portland, Oregon, in February 1994. past then, Kia methodically expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the united States segment expanded their pedigree considering the addition 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 succession in imitation of Hyundai Motor Company to diversify by exchanging ownership in the middle of both companies. Hyundai Motor Company acquired 51% of the company, outbidding Ford Motor Company which had owned an captivation in Kia Motors past 1986. After subsequent divestments, Hyundai Motor Company owns very nearly 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 interchange Hyundai Motor Company subsidiaries. back 2005, Kia has focused on the European broadcast and has identified design as its “core innovative lump engine”leading to the hiring of Peter Schreyer in 2006 as chief design commissioner and his subsequent instigation of a further 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. present share. In August 2014, the company usual international attention like 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 other vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile friendly ceremony of his beginning at the Seoul landing field upon 14 August. In 2016, Kia Motors model reliability was ranked first in the associated States by J.D. capability and Associates, becoming the first non-luxury automaker back 1989 to summit that list.