Value Kia Philadelphia– 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, subsequently the Hyundai Motor Company, as soon as sales of higher 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 incline is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% in the works to 45.37%, addition 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 exactness Industry misrepresented its read out to Kia Industries, and forward-looking 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, taking into account production came to an stop after the supplementary military dictator Chun Doo-hwan enforced industry consolidation. This goaded Kia to have the funds for in the works passenger cars and focus no question upon vivacious trucks. Prior to the goaded 1981 shutdown, Kia rounded out its passenger car lineup taking into consideration two new foreign models assembled under license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when isolated 26 cars were manufactured, followed by more than 95,000 the next year), Kia rejoined the automobile industry in partnership later than 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 joined States. The first Kia-branded vehicles in the united States were sold from four dealerships in Portland, Oregon, in February 1994. before then, Kia systematically expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the associated States segment expanded their lineage in imitation of the adjunct of the Sportage. exceeding one hundred Kia dealerships existed across thirty states by 1995, selling a cassette 24,740 automobiles.
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However, during the Asian financial crisis, Kia avowed bankruptcy in 1997; and in 1998 reached an accord gone 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 back 1986. After subsequent divestments, Hyundai Motor Company owns more or less one third of Kia Motor Corporation. even though Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company as well as retains ownership in some 22 stand-in Hyundai Motor Company subsidiaries. since 2005, Kia has focused upon the European spread around and has identified design as its “core future growth engine”leading to the hiring of Peter Schreyer in 2006 as chief design superintendent and his subsequent initiation of a further corporate grille known as the ‘Tiger Nose’. In October 2006, Kia Motors America broke field 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 usual international attention in the manner of 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 further vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile manageable ceremony of his initiation at the Seoul airport upon 14 August. In 2016, Kia Motors model reliability was ranked first in the joined States by J.D. power and Associates, becoming the first non-luxury automaker past 1989 to top that list.