Does Hyundai Own Kia?

Does Hyundai Own Kia?

Does Hyundai Own Kia?

Yes, partially; the Hyundai Motor Company owns about a third of Kia Motors. Both Kia and Hyundai are large automobile makers originally based in South Korea. Hyundai is the largest, while Kia is the second biggest.

Kia was founded in 1944 as a bicycle manufacturer. It started making motorized vehicles, namely motorcycles, in 1957. It began manufacturing trucks in 1962 and cars in 1974. During the Asian financial crisis of 1997, Kia declared bankruptcy. The following year, the Hyundai Motor Company acquired 51 percent of Kia Motors, outbidding the Ford Motor Company in the process. Hyundai has since reduced its stake in Kia.