Kia to Invest 3 Trillion Won in Gwangju for PBV Mobility Ecosystem

Kia Corporation has unveiled plans to invest 3 trillion won (approximately $2.2 billion) in Gwangju, South Korea, to create a mobility ecosystem focused on purpose-built vehicles (PBVs) by 2029.

The announcement was made following the signing of a memorandum of understanding with local government and academic institutions, including Jeonnam-Gwangju Special Metropolitan City, Chonnam National University, and the Gwangju Institute of Science and Technology (GIST).

This partnership aims to enhance the development of PBVs tailored for demand-responsive transport services and to test autonomous shuttle services within the city. Additionally, Kia plans to demonstrate innovative technologies, such as remote driving capabilities and its Easy Swap technology, which allows vehicles to adapt between passenger and cargo modes.

Kia's initiative is expected to bolster the PBV industry in the region, creating new growth opportunities and accelerating the adoption of advanced mobility services. The investment reflects Kia's commitment to innovation and technology in the automotive sector, as it seeks to lead in the evolving landscape of transportation.