Japan Government Backs Earlier BOJ Rate Hike as Inflation Pressures Build 
Goldman Sachs Eyes Investors for Nvidia’s $500 Billion AI Financing Plan 
Ford to Move Some Lincoln Production From China to U.S. in 2030 
ANZ Home Loan Applications Drop 12% After Australia Property Tax Changes 
US Dollar Slips as Weak Retail Sales Reduce Fed Rate Hike Bets 
Bill Ackman’s Pershing Square Returns to Netflix With Major New Stake 
S&P 500 Hits Record High as Soft Inflation Data Eases Fed Rate Hike Fears 
Asian Currencies Steady as Dollar Holds Firm After U.S. Inflation Data 
Bank of America to Buy Up to 49.9% Stake in Jio Credit for $1.92 Billion 
Bernstein Picks BYD and Xiaomi as Top China EV Stocks Despite Weaker Demand 
Gold Prices Slip From 10-Week High as Fed and Hormuz Risks Shape Outlook 
European Stocks Rise as U.S. Inflation Data Eases Fed Rate Hike Fears 
China Automakers Accelerate Global Expansion as Domestic Car Sales Slump 
Tesla Roadster Reveal Could Feature SpaceX Thrusters in August 
European Stocks Steady as U.S.-Iran War, Euro Zone Data Keep Investors Cautious 
Micron Stock Upgraded to Buy as New Street Sees $2 Trillion Valuation Potential 
Add as a preferred source on Google
Kia Motors and CJ Freshway have signed a memorandum of understanding (MOU) for the supply of eco-friendly Purpose Built Vehicles or PBVs. These are special-purpose vehicles based on small or medium-sized, or multi-box vans.
The livestock company that delivers safe and reliable food supplies to customers placed an order for 30 units of refrigerated trucks from Kia Motors. CJ Freshway is seen as the best food distributor and food service company in South Korea, with global supply chains, and offers the best quality ingredients that will be delivered through the new fleet of PBVs.
It was last week when Kia Motors announced its new deal with CJ Freshway. The company said it would deliver 30 electric refrigerated vans to the livestock firm starting next year, as per the Korea Joongang Daily.
The new vans will also be utilized to bring fresh food to various customers. The vehicles will be deployed for food catering services for school and company cafeterias. It was reported that since this is an EV, the charging facilities for the vans will be provided by Kia Motors as well.
“Through a strategic collaboration with CJ Freshway, we intend to pioneer the domestic food delivery market by developing a dedicated specialized cold chain vehicle and related solution.” Kia Motors’ president, Song Ho Seong, said in a statement. “We will continue our efforts to ensure competitiveness in the PBV business by providing tailored services.”
Moreover, the companies will jointly work together to develop an environmentally friendly purpose-built vehicle (PBV) that is specially designed to be more effective when used for cold chain food delivery. They will also be formulating related services and provide solutions to speed up competitiveness in the global PBV business sector.
Meanwhile, the signing of the MOU was attended by key officials of CJ Freshway and Kia Motors. The event was held at the automaker’s headquarters in Yangjae-dong, Seoul, on Friday, Oct. 21. Aside from Kia’s president Song Ho Seong, CJ Freshway’s chief executive officer, Jeong Seong Pil, CJ Freshway’s head of distribution unit, and Kia’s eLCV business division manager, Kim Sang Dae was present in the ceremony too.
