Lee Kia Of Greenville– 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, as soon as the Hyundai Motor Company, subsequent to sales of on top of 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 on top of US$6 billion. Kia in slope is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% occurring to 45.37%, totaling 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 truth Industry tainted its name to Kia Industries, and unconventional built Honda-licensed little motorcycles (starting in 1957), Mazda-licensed trucks (1962) and cars (1974). The company opened its first integrated automotive assembly tree-plant in 1973, the Sohari Plant. Kia built the little Brisa range of cars until 1981, taking into account production came to an end after the further military dictator Chun Doo-hwan enforced industry consolidation. This forced Kia to offer going on passenger cars and focus unquestionably on lively trucks. Prior to the goaded 1981 shutdown, Kia rounded out its passenger car lineup with two new foreign models assembled under license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when lonely 26 cars were manufactured, followed by higher than 95,000 the adjacent 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 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 allied States. The first Kia-branded vehicles in the joined 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 associated States segment expanded their stock as soon as the adjunct of the Sportage. on top of one hundred Kia dealerships existed across thirty states by 1995, selling a cd 24,740 automobiles.
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However, during the Asian financial crisis, Kia declared bankruptcy in 1997; and in 1998 reached an taking office considering 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 captivation in Kia Motors previously 1986. After subsequent divestments, Hyundai Motor Company owns nearly 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 alternative Hyundai Motor Company subsidiaries. in the past 2005, Kia has focused on the European make public and has identified design as its “core highly developed bump 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 pitch 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. shout from the rooftops share. In August 2014, the company established international attention subsequent to 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 extra vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile friendly ceremony of his initiation at the Seoul landing field upon 14 August. In 2016, Kia Motors model reliability was ranked first in the joined States by J.D. faculty and Associates, becoming the first non-luxury automaker past 1989 to summit that list.