Currency Markets Show Caution Amid U.S.-Iran Negotiations 
ECB Eyes Rate Hike Amid Iran Conflict-Driven Energy Price Surge 
Reflection AI Eyes $25 Billion Valuation in Massive $2.5 Billion Funding Round 
Japan Eyes Oil Futures Intervention to Stabilize Yen Amid Middle East Crisis 
Bank of Japan Officials Signal Continued Interest Rate Hikes Amid Inflation Concerns 
Time to buy local: war fuel price shocks reveal the folly of a long food supply chain 
Japan's Private Sector Growth Slows in March Amid Rising Costs and Middle East Uncertainty 
Berkshire Hathaway and Tokio Marine Form Major Strategic Insurance Partnership 
CK Hutchison's Panama Ports Dispute Escalates as Arbitration Claims Surpass $2 Billion 
Asian Stocks Gain Amid Iran Conflict Uncertainty 
Goldman Sachs Raises ECB Rate Hike Forecast Amid Persistent Energy-Driven Inflation 
9 Tips for Avoiding Tax Season Cyber Scams 
Iran-Israel Missile Strikes Continue Amid Mixed Signals on U.S.-Iran Diplomacy 
NAB Plans to Cut 170 Jobs While Expanding Offshore Operations 
Delivery Hero Sells Taiwan Foodpanda to Grab for $600 Million in Debt-Reduction Push 
Henkel in Advanced Talks to Acquire Olaplex at $2 Per Share 
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.
