Kia
Kia Motors, a subsidiary of Hyundai
Kia Automotive Group, is South Korea's 2nd largest automobile
manufacturer with headquarters in Seoul, South Korea. Its CEO is
Chung Eui-sun. The American arm is Kia Motors America. On October
20, 2006, Kia Motors America formally hosted a groundbreaking
ceremony for its first US assembly plant in West Point, Georgia, at
an initial cost of over $1 billion. Since 2005, Kia has started to
focus on the European market and is currently the UK's fastest
growing car company and had various other successes in the European
market.
IAccording to Kia Motors, the name "Kia" derives from the sino-Korean
word ki which means to come out and the sino-Korean word a which
stands for Asia. So Kia 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 in 1944 as
manufacturer of steel tubing and bicycles. In 1952, Kia changed its
name from Kyungsung Precision Industry,[3] and later built
motorcycles, trucks and cars. Starting in 1986, in partnership with
Ford, Kia produced several Mazda derived vehicles for both domestic
sales in Korea and exports 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 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
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