Silsbee 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, with the Hyundai Motor Company, later 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 more than US$6 billion. Kia in point of view is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% taking place to 45.37%, totaling more than US$8.3 billion.
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Kia was founded in December 1944 as Kyungsung accurateness Industry, a manufacturer of steel tubing and bicycle parts, eventually producing Korea’s first domestic bicycle, the Samchully, in 1951. In 1952, Kyungsung exactness Industry changed its post to Kia Industries, and complex built Honda-licensed small motorcycles (starting in 1957), Mazda-licensed trucks (1962) and cars (1974). The company opened its first integrated automotive assembly plant in 1973, the Sohari Plant. Kia built the little Brisa range of cars until 1981, taking into account production came to an stop after the extra military dictator Chun Doo-hwan enforced industry consolidation. This provoked Kia to provide stirring passenger cars and focus extremely on fresh trucks. Prior to the motivated 1981 shutdown, Kia rounded out its passenger car lineup like two extra foreign models assembled under license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when isolated 26 cars were manufactured, followed by greater than 95,000 the next-door year), Kia rejoined the automobile industry in partnership with Ford. Kia produced several Mazda-derived vehicles for both domestic sales in South Korea and for export into other 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 associated States were sold from four dealerships in Portland, Oregon, in February 1994. before then, Kia rationally expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the allied States segment expanded their parentage taking into account the auxiliary of the Sportage. more than one hundred Kia dealerships existed across thirty states by 1995, selling a scrap book 24,740 automobiles.
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However, during the Asian financial crisis, Kia declared bankruptcy in 1997; and in 1998 reached an concurrence later than Hyundai Motor Company to diversify by exchanging ownership in the company of both companies. Hyundai Motor Company acquired 51% of the company, outbidding Ford Motor Company which had owned an engagement in Kia Motors since 1986. After subsequent divestments, Hyundai Motor Company owns roughly one third of Kia Motor Corporation. even though Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company next retains ownership in some 22 interchange Hyundai Motor Company subsidiaries. previously 2005, Kia has focused on the European promote and has identified design as its “core superior accumulation engine”leading to the hiring of Peter Schreyer in 2006 as chief design officer and his subsequent initiation of a additional 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. promote share. In August 2014, the company customary 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 greater than before attention than two further vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile user-friendly ceremony of his dawn at the Seoul landing field on 14 August. In 2016, Kia Motors model reliability was ranked first in the joined States by J.D. knack and Associates, becoming the first non-luxury automaker past 1989 to top that list.