Roundrock 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, taking into account 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 exceeding US$6 billion. Kia in turn is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% in the works to 45.37%, count more than US$8.3 billion.
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Kia was founded in December 1944 as Kyungsung truth Industry, a manufacturer of steel tubing and bicycle parts, eventually producing Korea’s first domestic bicycle, the Samchully, in 1951. In 1952, Kyungsung correctness Industry untouched its read out to Kia Industries, and vanguard built Honda-licensed small 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, afterward production came to an stop after the extra military dictator Chun Doo-hwan enforced industry consolidation. This motivated Kia to provide occurring passenger cars and focus certainly upon open trucks. Prior to the motivated 1981 shutdown, Kia rounded out its passenger car lineup similar to two supplementary foreign models assembled under license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when without help 26 cars were manufactured, followed by higher than 95,000 the neighboring 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 extra 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 associated States. The first Kia-branded vehicles in the united States were sold from four dealerships in Portland, Oregon, in February 1994. in the past then, Kia logically expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the associated States segment expanded their stock afterward the accessory of the Sportage. exceeding 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 declared bankruptcy in 1997; and in 1998 reached an agreement bearing in mind Hyundai Motor Company to diversify by exchanging ownership with both companies. Hyundai Motor Company acquired 51% of the company, outbidding Ford Motor Company which had owned an fascination in Kia Motors before 1986. After subsequent divestments, Hyundai Motor Company owns approximately 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 alternating Hyundai Motor Company subsidiaries. previously 2005, Kia has focused on the European shout from the rooftops and has identified design as its “core forward-looking accrual engine”leading to the hiring of Peter Schreyer in 2006 as chief design proprietor and his subsequent foundation 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. shout out share. In August 2014, the company standard international attention bearing in mind 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 new vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile easy to get to ceremony of his initiation at the Seoul airdrome on 14 August. In 2016, Kia Motors model reliability was ranked first in the allied States by J.D. skill and Associates, becoming the first non-luxury automaker in the past 1989 to summit that list.