Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Instagram Outage Disrupts Thousands of U.S. Users 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Kia Motors and Uber Technologies Inc. announced they have signed a partnership agreement where the former would supply electric vans to the ride-hailing company. Through their memorandum of understanding (MOU), Uber will offer PBVs to drivers using its platform.
First Customer to Order Electric PBVs
According to Korea Joongang Daily, Uber has become Kia Motors' first customer for its new electric vans. Uber will deliver its PV5 EV model, which was recently unveiled at the Consumer Electronics Show (CES 2024) in Las Vegas.
Kia Motors and Uber revealed their team-up on Wednesday, Jan. 10, just two days after it introduced its purpose-built vehicles. The South Korean automaker unveiled five PBV concept models at the trade fair: three Concept PV5 derivatives, Concept PV7 and Concept PV1.
In any case, for its deal with Uber, Kia will develop customized PBVs that will be ideal for Uber drivers. The carmaker will do this by analyzing the drivers' driving patterns when servicing customers.
Shared Partnership Goals
Kia Motors and Uber's goal for their collaboration is to identify the most favorable specifications for PBV models. They may team up further for the integration of technology and services that will benefit drivers and customers of the ride-hailing services. Lastly, their main aim is to extend to the production of PBVs designed according to the needs of drivers who use the Uber platform.
"PBVs will play a key role in the customization of mobility, and by partnering with Uber, Kia aims to deliver industry-leading technology with advanced software and services to enhance the ride-hailing experience," Kia America and North America's president and chief executive officer, SeungKyu (Sean) Yoon, said in a press release.
Kia's head of PBV unit, Sangdae Kim, also said, "PBVs will play a key role in the transformation of mobility. This collaboration will enhance Kia's PBV development, with optimized vehicles for drivers' and riders' needs. This will focus on advanced software and services, with the integration of interactive In-Vehicle Infotainment and advanced safety technology."
Photo by: Kia Corporation Press Release
