Ray Brandt Kia– 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, next the Hyundai Motor Company, in the same way as sales of beyond 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 slope is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% up to 45.37%, calculation more than US$8.3 billion.
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Kia was founded in December 1944 as Kyungsung exactness 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 distorted its name to Kia Industries, and later built Honda-licensed small 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, considering production came to an stop after the supplementary military dictator Chun Doo-hwan enforced industry consolidation. This forced Kia to offer happening passenger cars and focus completely upon lighthearted trucks. Prior to the forced 1981 shutdown, Kia rounded out its passenger car lineup gone two further foreign models assembled under license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when by yourself 26 cars were manufactured, followed by higher than 95,000 the adjacent year), Kia rejoined the automobile industry in partnership behind 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 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 joined States. The first Kia-branded vehicles in the united 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 united States segment expanded their heritage gone the supplement of the Sportage. higher than 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 confirmed bankruptcy in 1997; and in 1998 reached an attainment 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 assimilation in Kia Motors previously 1986. After subsequent divestments, Hyundai Motor Company owns roughly one third of Kia Motor Corporation. even if Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company in addition to retains ownership in some 22 alternative Hyundai Motor Company subsidiaries. back 2005, Kia has focused upon the European spread around and has identified design as its “core sophisticated growth engine”leading to the hiring of Peter Schreyer in 2006 as chief design executive and his subsequent introduction of a extra 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. broadcast share. In August 2014, the company acknowledged international attention following 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 greater than before attention than two additional vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile welcoming ceremony of his arrival 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 top that list.