RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Kroger Set to Name Former Walmart Executive Greg Foran as Next CEO 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
U.S. Stock Futures Rise as Markets Brace for Jobs and Inflation Data 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Oil Prices Slip as U.S.-Iran Talks Ease Middle East Tensions 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Nikkei 225 Hits Record High Above 56,000 After Japan Election Boosts Market Confidence 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
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.
