Kia to release PV9 in 2029, retains CEO for 3 more years

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Kia to release PV9 in 2029, retains CEO for 3 more years - Korea Economic Daily

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The carmaker also logged 11.8% in annual profit margin, becoming the highest earner per vehicle sold above its global rivals such as Tesla, Toyota Motor, Mercedes-Benz, BMW and Volkswagen as well as its sister firm Hyundai Motor in terms of profitability.“Kia will strive to sustain its growth streak by making EVs more accessible, fostering new growth engines, such as PBVs and pickup trucks, achieving software-centered transition and acquiring future mobility technologies,” CEO Song said at the annual shareholders meeting.

Kia Corp.will launch a new purpose-built vehicle (PBV) model every two years, with the PV9 in 2029 as it is set to release the first model, the PV5, this year under a goal to drive its future growth with PBVs alongside electrification and software-centered mobility transition.

South Korea’s second-largest automaker after its bigger sibling Hyundai Motor Co.will release the PV5 in 2025, the PV7 in 2027 and the PV9 in 2029 in phases, Kia’s PBV Division Head Kim Sangdae said at the company’s annual shareholders’ meeting on Friday.