Market Chatter: Kia, Gyeonggi Province, Hwaseong City Partner to Build Future Mobility Hub

MT Newswires Live

Mar 10, 2025

South Korean automaker Kia (KRX:000270) signed a memorandum of understanding with Gyeonggi Province and the city of Hwaseong to develop a future mobility ecosystem centered on its purpose-built vehicles (PBVs).

The deal supports the construction of Kia's Hwaseong EVO Plant, with local governments assisting with permits and infrastructure, Pulse News reported Friday.

The collaboration aims to introduce PBV-based wheelchair-accessible vehicles and demand-responsive transit while establishing a two-way vehicle-to-grid charging network, the report said.

Shares of Kia rose more than 1% in recent trade on Monday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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