Ford Has No Plans for Kia-Equity Purchase
Ford Motors of the United States is not interested in acquiring equities of Kia Motors.Henry Wallace, president of Ford's Asia and Pacific operations, announced on January 5, 'When Hyundai Group acquired Kia, Ford sold its Kia equities and, as of now, there are no plans to invest again into Kia.'
Despite that, he said, ' Ford will continue to cooperate with Kia for OEM (Original Equipment Manufacturer) and technological alliances.'
Regarding possibilities for future cooperation with Hyundai, he said, 'There has been no time to contact Hyundai. But it is possible for the company to contact other companies.'
with the Korea JoongAng Daily
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