Martin Kia Newark De– 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, in the same way as 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 beyond US$6 billion. Kia in direction is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% going on to 45.37%, tally more than US$8.3 billion.
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Kia was founded in December 1944 as Kyungsung truthfulness 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 tainted its say to Kia Industries, and well ahead 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, similar to production came to an end after the other military dictator Chun Doo-hwan enforced industry consolidation. This goaded Kia to have enough money taking place passenger cars and focus certainly upon open trucks. Prior to the motivated 1981 shutdown, Kia rounded out its passenger car lineup considering two new foreign models assembled below license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when by yourself 26 cars were manufactured, followed by over 95,000 the next year), Kia rejoined the automobile industry in partnership later 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 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 united States. The first Kia-branded vehicles in the joined States were sold from four dealerships in Portland, Oregon, in February 1994. past 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 lineage next the complement of the Sportage. beyond one hundred Kia dealerships existed across thirty states by 1995, selling a record 24,740 automobiles.
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However, during the Asian financial crisis, Kia stated bankruptcy in 1997; and in 1998 reached an succession subsequent to 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 captivation in Kia Motors before 1986. After subsequent divestments, Hyundai Motor Company owns about one third of Kia Motor Corporation. though Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company with retains ownership in some 22 swing Hyundai Motor Company subsidiaries. in the past 2005, Kia has focused upon the European present and has identified design as its “core future growth engine”leading to the hiring of Peter Schreyer in 2006 as chief design proprietor and his subsequent introduction 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. broadcast share. In August 2014, the company standard international attention taking into account 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 bigger attention than two other vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile approachable ceremony of his beginning at the Seoul landing field upon 14 August. In 2016, Kia Motors model reliability was ranked first in the allied States by J.D. gift and Associates, becoming the first non-luxury automaker previously 1989 to summit that list.