Kia announced on Wednesday that it would open a high-tech manufacturing plant dedicated to PBVs.
Amid its transition into a sustainable mobility provider, South Korean automaker Kia announced on Wednesday that it would build a new manufacturing plant dedicated to producing electric Purpose-Built Vehicles (PBVs).
I cannot find a tweet relevant here. But Hyundai tags this as pbv.
The all-new, high-tech innovative production facility will be located within Kia’s existing manufacturing plant in Hwaseong, Gyeonggi Province in South Korea. The company will begin construction in the first half of 2023, with targets to begin production in the second half of 2025.
Accordingly, the plant will initially be able to produce 100,000 PBVs annually and a capacity to increase production to 150,000.
Ho Sung Song, President and CEO of Kia Corporation, said, “This dedicated PBV facility is one of the major pillars of our Plan S strategy as Kia seeks to claim the top position in the global PBV market,” He added, “We will initially explore new markets with derivative PBV models, then gradually expand our presence in global markets with dedicated PBV models featuring autonomous driving technologies.”
The South Korean automaker will invest 21 trillion won ($16 billion) in the new plant. With its parent company, Hyundai, both companies plan to build 1.44 million units of EVs in South Korea by 2030. The figure is four times both automakers’ EV domestic output estimate for this year.
Hyundai Motor Group, including Kia, targets 3.2 million EV sales globally by 2030, aiming for a 12% share of the global EV market. Hyundai also announced last week that it plans to build a new plant in Georgia, the U.S.A.