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Kia Motors

Kia Motors

Industry: 
Automotive
Value of USG Contracts: 
1
Symbol: 
KRX:000270
States: 
CA
GA
IL
NY
Country: 
South Korea
Sources: 

Kia is part of the Hyundai Kia Automotive Group.

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"Iran totally imported 51,967 cars in the first half of the current Iranian calendar year (March 21 - September 22). Hyundai with 24,991 cars was the main exporter of cars to Iran in the mentioned period, Peykhabar News Website reported on Nov. 15. Kia Motors with 9,339 cars..." (Trend, "Korea’s Hyundai gains lion share of Iran’s car imports market," 11/16/14)

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"Last week, Qorbani announced that Benz, Volkswagen, Volvo, Fiat, Rover, Skoda, Renault, Peugeot, Kia and Toyota would take part in the Iranian auto expo, adding that the US car-manufacturers would also join the event. 'In case of desirable conditions, General Motors and Ford companies will also attend the event.' He continued that some leading car parts makers, including Siemens, FORD Mendo, Busch, FRW and ACI would attend the gathering. The event will start work on December 10." (Fars News, "55 Giant Int'l Carmakers, Part-Makers to Participate in Iranian Auto Expo," 11/2/14)

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“For example, Iranian auto manufacturer Pars Khodro produced 240,923 Kia Pride cars for one year between March 2011 and February 2012.  Given Hyundai Wia supplies 95 percent of its parts to Hyundai and Kia, the new sanctions will hurt the company's bottom line acutely.” (The Korea Economic Daily, Hyundai Wia in Danger of Losing Big in Iran,” 6/27/13)

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"According to the report, 17 car brands have been permitted to be imported in the current year. The cars include Hyundai (2 models), ABT, Alfa Romeo (2 models), MG, SsangYong, Toyota, Renault (6 models), and Kia (2 models). Previously, 25 car brands were included in the list, such as South Korean brands (Kia and Hyundai), Chinese brands (SAIC motors), Italian brands (Fiat, Alpha Romeo), Japanese brands (Honda, Mitsubishi), German brands (ABT), and Swedish brands (Volvo)." (Azer News, "Iran bans imports of renowned car brands," 5/27/2013) 

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"South Korea's Kia Motors, whose Pride model is ubiquitous on Iranian roads, said Tuesday it had suspended exports to the Islamic state partly in response to Seoul's nuclear-related sanctions. 'South Korean government sanctions... were part of the decision,' Kia spokesman Michael Choo told AFP, declining to comment further. Kia's Pride, a small hatchback, accounts for 30-40 percent of all vehicles on Iran's roads, according to the company. The firm last year exported 4,210 complete vehicles to Iran and 17,040 cars in kit form for local assembly. Kia suspended all exports to Iran last month, including completed vehicles, kits and spare parts -- before South Korea's government announced its detailed measures but after it announced its intention to impose sanctions . . . Kia, with its larger partner Hyundai Motor, forms the world's fifth largest automaking group." (Google News, "South Korea's Kia halts exports to Iran," 9/13/10)

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"Kia has a production agreement with Saipa, Iran's second-biggest car producer. Saipa currently manufactures the Kia Rio under license. Kia entered the Iranian car market in 1993 when it won a contract to set up an assembly plant." From 2000-2009, the company was the recipient of $706,745 US federal funds. Their business in Iran is currently active.  (The New York Times, "Profiting from Iran, and the US," 3/6/2010)

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"Saipa 141 with a 1323 cc three cylinders engine has been described as a popular car because of its low fuel consumption, good customer service as well as cheap auto parts. Saipa 141 is a car made by Iranian carmaker Saipa using the platform of the Kia Pride Car." (Press TV, "Saipa launches production line in Syria," 7/3/09)

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"Foreign car makers seeking volume are gambling their US businesses - and getting away with it by licensing models in Iran, the country's 70 million population too big to ignore as markets elsewhere mature. Kia of Korea is producing a version of the Pride with Saipa, Peugeot a take on its popular 405 model with both Saipa and Iran Khodro, and Renault has a $300 million investment with Saipa to produce the Logan and the Megane." (Sydney Morning Herald, "Iran’s car industry stuck in 1970s gear," 10/16/06)