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The people at Kia Motors explain that the name Kia is derived from the Hanja ki
which means arise or come up out of or rising up and that the a represents Asia,
which means that their name can be loosely translated as Rising out of Asia. Kia,
which is South Korea's oldest car company, did indeed rise up.
It was founded in 1944 as a bicycle and steel tubing manufacturer. After
changing its name from Kyungsung Precision Industry in 1952, Kia built
motorcycles, trucks and cars, eventually partnering with Ford in 1986, to
produce cars derived from Mazda platforms, both for domestic sales in Korea, and
imports into other countries. These models include the Pride and Avella, which
are better known in North America as the Ford Festiva and Ford Aspire.
Kia Motors America was incorporated in the United States in 1992, and the first
vehicles under that brand, the Sephias, were sold in February, 1994, from
dealerships in Portland, Oregon. Since then, Kia's expansion has been a
methodical one, building region by region, eventually adding the Sportage to
their American line. Their entry strategy proved to be extremely successful,
setting a new standard for entering the US market. Kia's success was curtailed
in 1997 by the Asian Financial Crisis, and the company filed bankruptcy, which
resulted in its 1998 acquisition by rival South Korean company Hyundai, which
outbid Ford, despite the fact that Ford had owned an interest in Kia since 1986.
Kia's success began anew at the beginning of the 21st century, and expansion
into Europe has ensured that it will continued to grow. |
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