Kia On the Boulevard– 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, in the same way as the Hyundai Motor Company, subsequent to sales of exceeding 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 beyond US$6 billion. Kia in point of view 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 correctness Industry, a manufacturer of steel tubing and bicycle parts, eventually producing Korea’s first domestic bicycle, the Samchully, in 1951. In 1952, Kyungsung precision Industry tainted its publicize 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 small Brisa range of cars until 1981, in the same way as production came to an stop after the extra military dictator Chun Doo-hwan enforced industry consolidation. This irritated Kia to give up passenger cars and focus very upon light trucks. Prior to the goaded 1981 shutdown, Kia rounded out its passenger car lineup like two further foreign models assembled below license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when solitary 26 cars were manufactured, followed by more than 95,000 the bordering year), Kia rejoined the automobile industry in partnership later than Ford. Kia produced several Mazda-derived vehicles for both domestic sales in South Korea and for export into other 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 associated States. The first Kia-branded vehicles in the joined States were sold from four dealerships in Portland, Oregon, in February 1994. back then, Kia rationally expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the allied States segment expanded their pedigree as soon as the complement of the Sportage. over one hundred Kia dealerships existed across thirty states by 1995, selling a book 24,740 automobiles.
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However, during the Asian financial crisis, Kia stated bankruptcy in 1997; and in 1998 reached an appointment subsequently 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 immersion in Kia Motors back 1986. After subsequent divestments, Hyundai Motor Company owns virtually one third of Kia Motor Corporation. even if Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company as well as retains ownership in some 22 substitute Hyundai Motor Company subsidiaries. previously 2005, Kia has focused on the European make public and has identified design as its “core highly developed growth engine”leading to the hiring of Peter Schreyer in 2006 as chief design official and his subsequent commencement of a supplementary corporate grille known as the ‘Tiger Nose’. In October 2006, Kia Motors America broke auditorium 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. promote share. In August 2014, the company expected international attention later 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 extra vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile nearby ceremony of his introduction at the Seoul airdrome on 14 August. In 2016, Kia Motors model reliability was ranked first in the allied States by J.D. capability and Associates, becoming the first non-luxury automaker previously 1989 to summit that list.