Kia to invest 3 tln won in Gwangju to build PBV mobility ecosystem by 2029

Kia Corp. said Friday it will invest 3 trillion won (US$2.2 billion) through 2029 in the southwestern city of Gwangju to establish an ecosystem for purpose-built vehicles (PBVs).

The South Korean automaker signed a memorandum of understanding with Jeonnam-Gwangju Special Metropolitan City, Chonnam National University, and the Gwangju Institute of Science and Technology (GIST) at its AutoLand plant in Gwangju, about 270 kilometers south of Seoul.

Under the agreement, the partners will cooperate in developing PBVs for demand-responsive transport services and testing autonomous PBV shuttles in the city.

They will also demonstrate remote driving technology using the PV5 wheelchair-accessible vehicle and test Kia's Easy Swap technology, which allows vehicles to switch between passenger and cargo configurations.

Kia said it expects the partnership to strengthen the region's PBV industry and create new growth opportunities by accelerating the development and adoption of advanced mobility services.