Kia, Lotte Global Logistics to develop logistics-specific PBV

South Korea's Kia Corp. announced on Wednesday that it has signed a memorandum of understanding with Lotte Global Logistics at its headquarters in Yangjae-dong, Seoul, for the creation of an environmentally friendly logistics ecosystem.

The event was attended by Song Ho-Sung, Kia President, and Park Chanbok, Lotte Global Logistics CEO. 

Under the business agreement, the two companies plan to develop purpose-built vehicles (PBVs) optimized for logistics and collaborate on eco-friendly logistics businesses, including the demonstration of new electric mobility technologies.

Initially, Kia will supply an environmentally friendly electric cargo truck Bongo 3 EV to Lotte Global Logistics and will work on developing logistics PBVs to support Lotte's 100% electrification transition.

Furthermore, both companies will continue to collaborate in various areas, including consulting for optimizing used battery logistics supply chains, results-based operational demonstrations, battery swapping technology trials, and charging solutions using used battery energy storage systems.

Write to Hyung-Kyu Kim at khk@hankyung.com