Company overview
Asia Motors Industries was established in South Korea in 1965. The Korean government provided incentives to support its creation, initially for manufacturing military vehicles, trucks, and buses. From 1970, the company began assembling Fiat 124 models. In 1976, Kia Motors acquired Asia Motors, and the government granted Kia a monopoly on military vehicle production. Later, in 1978, Asia Motors signed an agreement with Hino Motors of Japan to achieve economies of scale. In 1994, Asia Motors do Brasil was established in Brazil with the intention of building an assembly plant. However, due to unpaid taxes and legal disputes, this project was unsuccessful, delaying Hyundai’s factory construction in Brazil until 2012. The brand ceased operations in 1999, with the Retona model sold under the Kia brand.
