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KIA Motors History.

KIA South Korea's oldest car company, 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* (South Korean form of business conglomerate*) since. In 1951 Kia began building complete bicycles. In 1952, Kia changed its name from Kyungsung Precision Industry, 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.

During the Asian financial crisis, Kia declared bankruptcy in 1997; in 1998 Hyundai Motor Company acquired 51% of the company outbidding Ford Motor Company which had owned an interest in Kia Motors since 1986. After subsequent divestments, Hyundai Motor Company owns less than 50% of the company.

Since 2005, Kia has focused on the European market and has identified design as its "core future growth engine" - leading to the hiring of Peter Schreyer in 2006 as Chief Design Officer and his subsequent creation of a new corporate grille known as the "Tiger Nose".

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