Kia

History

Kia Motors Manufacturing Georgia

According to Kia Motors, the name "Kia" derives from the Sino-Korean words ki ("to come out") and a (which stands for Asia), it is roughly translated as "arise or come up out of Asia" or "rising out of Asia".

South Korea's oldest car company, Kia was founded on June 9, 1944 as a manufacturer of steel tubing and bicycle parts by hand — and has operated as one of the country's Chaebols since. In 1952, Kia changed its name from Kyungsung Precision Industry,^[8] and later built motorcycles (starting in 1957), trucks (1962) and cars (1974). The company opened its first integrated automotive assembly plant in 1973, the Sohari Plant. Starting in 1986, in partnership with Ford, Kia produced several Mazda derived vehicles for both domestic sales in South Korea into other countries. These models include the Pride (based on the Mazda 121) and 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 United States were sold from four dealerships in Portland, Oregon in February 1994. Since then, Kia expanded methodically one region at a time. Dealers in 1994 sold the Sephia, and a few years later the United States line expanded with the addition of the Sportage.

However, Kia's bankruptcy in 1997, part of the Asian financial crisis, resulted in 51% of the company being acquired in 1998 by South Korean rival Hyundai Motor Company, outbidding Ford Motor Company which had owned an interest in Kia Motors since 1986.^[9] Subsequently, however, Hyundai has divested some of its ownership of Kia Motors,^[10] and currently Hyundai Motor Company owns less than 40% of the company.

In October 2006, Kia Motors America broke ground for Kia Motors Manufacturing Georgia in West Point, Georgia, representing a $1 billion USD investment for the company.^[11] Kia Motors Manufacturing Georgia opened in February, 2010. For 2009, KMA recorded its 15th consecutive year of increased U.S. market share.