Kia Motors Corporation: History, Company Profile, Information and Share Price

Written by Rayden Sam Posted on 2024-01-19

Kia Motors, also known as Kia, is a global South Korean automaker with headquarters in Seoul with a huge sale of more than 2.8 million automobiles in the year 2019.

Kia Motors-Introduction: Having been established in May 1944, Kia Motors is Korea’s oldest automobile manufacturer. As a small, local bicycle and motorbike manufacturer that has expanded to join the vibrant, international Hyundai-Kia Automotive Group, Kia is now the fifth-largest automaker in the world.

Kia currently produces over 1.4 million automobiles annually at 14 production and assembly facilities across eight nations.

Kia began identifying design as its “core future growth engine” in 2006. This led to the hiring of Peter Schreyer in 2006 and Tom Kearns as Chief Design Officer in 2005. Schreyer earlier designed the Audi TT while working for Audi and Volkswagen, and he also received the Federal Republic of Germany’s Design Award.

Kearns was previously Chief Design Officer at Cadillac, where he was in charge of directing the use of sharp angles and lines in the company’s designs. Since then, Schreyer has played a key role in the total redesign of the Kia lineup, supervising design work at the company’s design centers in Frankfurt, Los Angeles, Tokyo, and Namyang, South Korea.

Kia Motors-History

As a producer of steel tubing and bicycle parts, Kyungsung Precision Industry was founded on June 9, 1944. Kia eventually produced Korea’s first domestic bicycle, the Samchully, in 1951.

After changing its name to Kia Industries in 1952, Kyungsung Precision Industry went on to produce small motorcycles under the Honda and Mazda licenses beginning in 1957.

The Sohari Plant, the company’s first integrated vehicle assembly plant, opened its doors in 1973.

Beginning in 1986, Kia reentered the automotive sector in collaboration with Ford. Several Mazda-based vehicles were built by Kia for both domestic and international markets in South Korea.

Kia Motors-Shareholders

During the Asian financial crisis in 1997, Kia filed for bankruptcy. In 1998, the company agreed to exchange ownership with Hyundai Motor Company to diversify. It surpassed its parent firm, Hyundai Motor Company, to become South Korea’s second-largest automaker.

Outbidding Ford Motor Company, which had held a stake in Kia Motors since 1986, Hyundai Motor Company bought 51% of the business. Hyundai Motor Company now owns nearly one-third of Kia Motor Corporation following subsequent divestitures.

The majority number of shareholders of Kia enterprise still belong to Hyundai Motor Company; however, Kia Motor Company also owns 22 Hyundai Motor Company subsidiaries.

Kia Share Price

The share price of Skoda as of 8th August 2022 is 81,500 KWN (South Korean won) or 4962.41 Rs which is anticipated to increase shortly. So, it is a good investment option for the short run.