Been confused over close relationship between KIA and Hyundai that even extends to parts. I do know that Hyundai has been around since I can’t remember, so when did the acquire KIA if that’s the case?
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1998
In 1997, Kia declared bankruptcy while operating as an independent entity.
In 1998, Hyundai Motor Group stepped in to acquire the struggling automaker to prevent its collapse.
Although Kia and Hyundai Motor Group function as separate entities, Hyundai serves as the parent company of Kia Motors.
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Hyundai and Kia indeed share a close relationship, but it’s important to note that Hyundai did not acquire Kia. Instead, both companies are part of the same automotive group, the Hyundai Motor Group.
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This partnership allowed both companies to collaborate on various aspects, including research and development, manufacturing, and sharing of technologies and platforms.
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Over the years, the Hyundai Motor Group has maintained Hyundai and Kia as separate brands, each with its own distinct identity and product lineup. Despite this separation, they often share components, platforms, and technologies, leading to similarities in certain models and parts.
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Although Hyundai did not take over Kia completely, it acquired a controlling stake in KIA Motors during a financial crisis that hit many Korean companies in the late 1990s. Specifically, Hyundai took over 51% of KIA in 1998. As of 2011, Hyundai owned 33.7% of KIA Motors.
But of course, it is better for @KintaKinta to note that the two companies operate separately.
Hi, KintaKinta. Hyundai Motor Group opted to buy the automaker in 1998 to keep it viable. Kia and Hyundai Motor Group operate independently, while Hyundai is Kia Motors’ parent corporation.
It must be 1998, when Hyundai assumed control of Kia, which was encountering financial challenges then. Hyundai’s acquisition proved instrumental in stabilizing Kia’s financial standing. Despite Hyundai serving as the parent company, Kia maintains a degree of autonomy, preserving its distinct brand identity.