US Dollar Climbs to One-Year High as Fed Rate Hike Expectations Surge 
Alphabet Stock Slides as AI Talent Exodus and SpaceX Losses Shake Investor Confidence 
SpaceX Stock Rebounds After Sharp Selloff, But Valuation Concerns Persist 
Wall Street Slides as AI Stocks Tumble Following South Korea Tech Sell-Off 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
Meta Reportedly Developing ‘Arena’ Prediction Market App to Rival Polymarket and Kalshi 
Singapore Inflation Stays Muted in May as Core CPI Misses Forecasts Ahead of MAS Review 
DOJ Opens Investigation Into NYC Coffee Shop Over Anti-Goldman Social Media Post 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Micron Stock Surges on Strong AI Demand, Record Revenue, and Bullish Q4 Forecast 
Heineken Names JDE Peet’s CEO Rafael Oliveira as New Chief Executive 
South Korea’s KOSPI Rebounds as Samsung and SK Hynix Lead Tech Stock Recovery 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Tencent Reviews Marvelous Stake as Gaming Giant Reassesses Global Investment Strategy 
Japan Keeps Markets Guessing as Yen Nears 40-Year Low, Raising Intervention Risks 
Wall Street Ends Mixed as Alphabet Slumps, Middle East Developments and Fed Outlook Weigh on Markets 
Kia Motors and Coupang announced late last week that they have signed a partnership deal to produce electric trucks by the year 2025. The companies have joined forces to develop all-electric vehicles for cargo delivery.
As per The Korea Herald, Kia Motors and Coupang are planning to unveil their mid-sized and large delivery trucks three years from now. The new electric trucks will have better storage, efficiency, and safety feature compared to the current cargo trucks that Coupang is using.
Kia Motors will apply its experience and technology in making vehicles to provide different solutions, requirements, and services requested by Coupang. It was revealed the e-commerce company asked for trucks that would be suitable for its delivery services.
To improve the work efficiency of its delivery workers, Coupang said that Kia Motors may deliver a truck with sliding doors, lighter shelves, and overall better engineering. The Korean automaker said that its vehicles will be built according to purpose and will be fitted with a “skateboard” chassis which will serve as the main feature in the battery-powered vehicle architecture.
“We hope to make greater achievements in delivery efficiency, safety, and convenience through cooperation with Kia,” Coupang said through one of its officials while Kia also stated, “We will continue to offer diverse PBVs to our customers in logistics and retail, and enhance competitiveness in global PBV business.”
Kia Motors shared that its partnership with Coupang is an important step to reaching its goal to become a global leader in the area of purpose-build vehicle (PBV) market. The companies are also planning to work on autonomous driving vehicles and vehicle charging systems.
Finally, The Korea Economic Daily reported that Kia and Coupang will be launching the new “Coupang cars” in 2025. The two companies’ memorandum of understanding includes joint research and development of a custom vehicle for the latter Coupang.
Under the agreement, Kia and Coupang will release the delivery vehicles for Coupang, and after the successful launch of the PBV, the two may expand their collaboration and develop more electric vehicles for Coupang, including the autonomous types.
