Kia Motors Corporation is the second largest automaker company of South Korea, Where Hyundai Motor Company is on the first in South Korea. The headquater of Kia Motors is situated in Seoul, South Korea. Kia Motors was founded on December 1944. Worldwide area is served by Kia Motors except Japan and North Korea. Parent company of Kia Motors is Hyundai Motor Company which holds 33.84% share.
Kia was founded in December 1944 as Kyungsung Pecsion Industry, a manufacturer of steel tubing and bicycle parts which was Korea’s first domestic bicycle producer. In 1952 Kyungsung Industry changed it’s name to Kia Industries.
In the year of 1957 Kia started making small motorcycle on the license of Honda and and in 1962 it started making trucks on the license of Mazda. After 12 years in 1974 Kia started making cars which was also on the license of Mazda.
It’s first integrated assembly plant was established in 1973, named Sohari Plant. Kia built small range of cars untill 1981, after that Kia was forced to give up passenger cars making by the new dectator Chun Doo-hwan, after that Kia started focusing on light trucks.
In 1986 Kia rejoined the automobile industries in partnership with Ford. Kia produced several models for domestic sales in South Korea and export in other countries. These Models were Kia Pride, Kia Avella and Australasia based on Ford Festiva and Ford Aspire. In 1992 Kia Motors America was incorporated in the US. Over 100 Kia dealerships existed across 30 states by 1995.
In the year of 1997 during the Asian financial crisis Kia declared bankrupt and after one year reached an agreement with Hyundai Motor Company. Hyundai acquired 51% of the company. In 2015 Hyundai Motor company is only of 33.88% of stakeholder of Kia Motors.
Kia Motors India
The company is planning to enter the Indian market in 2019 with their SP2 concept SUV. The company is building a production facility on a Greenfield of Anantpur district in Andhra Padesh. The expected annual production capacity is 3,00,000 vehicles. Kia has committed a investment of $1.1 billion to develop operations in India. Whether Kia is serving from many years to India’s neighboring country Nepal.