Kia Lincolnwood– 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, when the Hyundai Motor Company, later 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 point is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% occurring to 45.37%, tally 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 truthfulness Industry misrepresented its read out to Kia Industries, and vanguard 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 little Brisa range of cars until 1981, subsequently production came to an end after the additional military dictator Chun Doo-hwan enforced industry consolidation. This irritated Kia to offer going on passenger cars and focus categorically on buoyant trucks. Prior to the goaded 1981 shutdown, Kia rounded out its passenger car lineup subsequently two further 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 bordering year), Kia rejoined the automobile industry in partnership like Ford. Kia produced several Mazda-derived vehicles for both domestic sales in South Korea and for export into new 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 associated States were sold from four dealerships in Portland, Oregon, in February 1994. before then, Kia systematically expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the united States segment expanded their parentage bearing in mind the complement of the Sportage. higher than one hundred Kia dealerships existed across thirty states by 1995, selling a stamp album 24,740 automobiles.
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However, during the Asian financial crisis, Kia stated bankruptcy in 1997; and in 1998 reached an taking office following Hyundai Motor Company to diversify by exchanging ownership between both companies. Hyundai Motor Company acquired 51% of the company, outbidding Ford Motor Company which had owned an concentration in Kia Motors past 1986. After subsequent divestments, Hyundai Motor Company owns just about one third of Kia Motor Corporation. though Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company plus retains ownership in some 22 alternating Hyundai Motor Company subsidiaries. past 2005, Kia has focused on the European announce and has identified design as its “core forward-looking growth engine”leading to the hiring of Peter Schreyer in 2006 as chief design superintendent and his subsequent foundation 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. broadcast share. In August 2014, the company normal international attention next 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 handy ceremony of his initiation at the Seoul airstrip upon 14 August. In 2016, Kia Motors model reliability was ranked first in the associated States by J.D. skill and Associates, becoming the first non-luxury automaker before 1989 to top that list.