Riverchase 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, following 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 on top of US$6 billion. Kia in approach is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% taking place to 45.37%, calculation 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 truthfulness Industry untouched its make known to Kia Industries, and progressive built Honda-licensed little 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, behind production came to an end after the other military dictator Chun Doo-hwan enforced industry consolidation. This irritated Kia to offer going on passenger cars and focus definitely upon light trucks. Prior to the goaded 1981 shutdown, Kia rounded out its passenger car lineup past two extra foreign models assembled below license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when only 26 cars were manufactured, followed by exceeding 95,000 the bordering year), Kia rejoined the automobile industry in partnership following Ford. Kia produced several Mazda-derived vehicles for both domestic sales in South Korea and for export into supplementary 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 associated States were sold from four dealerships in Portland, Oregon, in February 1994. before then, Kia critically expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the joined States segment expanded their extraction considering the complement of the Sportage. over one hundred Kia dealerships existed across thirty states by 1995, selling a tape 24,740 automobiles.
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However, during the Asian financial crisis, Kia confirmed bankruptcy in 1997; and in 1998 reached an taking office later than Hyundai Motor Company to diversify by exchanging ownership along with both companies. Hyundai Motor Company acquired 51% of the company, outbidding Ford Motor Company which had owned an amalgamation in Kia Motors previously 1986. After subsequent divestments, Hyundai Motor Company owns nearly one third of Kia Motor Corporation. even though Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company plus retains ownership in some 22 alternative Hyundai Motor Company subsidiaries. in the past 2005, Kia has focused upon the European make known and has identified design as its “core difficult mass engine”leading to the hiring of Peter Schreyer in 2006 as chief design proprietor and his subsequent initiation of a extra corporate grille known as the ‘Tiger Nose’. In October 2006, Kia Motors America broke showground 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. make known share. In August 2014, the company established international attention taking into consideration 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 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 beginning at the Seoul airdrome upon 14 August. In 2016, Kia Motors model reliability was ranked first in the allied States by J.D. capacity and Associates, becoming the first non-luxury automaker back 1989 to top that list.