Kia’s Electric PBV ‘PV5‘ Claims Top Global Honor, marking First Asian Win for Prestigious Award
Hwaseong, Gyeonggi Province - November 21, 2023 – Kia’s all-electric Purpose Built Vehicle (PBV), the PV5, has been crowned the ”2026 World Van of the Year” at the World Commercial Vehicle Expo, besting competitors including Ford and Volkswagen. This unanimous decision by a panel of commercial vehicle journalists from across Europe underscores Kia’s rapidly advancing electric commercial vehicle technology and growing global brand recognition.
The PV5 is a customized vehicle designed for diverse user needs, representing a shift from customary vans and trucks.Kia has been increasingly focused on future mobility solutions, including PBVs, alongside its established electric and internal combustion engine vehicle production.
This award marks a significant milestone, being the first time an Asian vehicle has received the IVOTY title. The recognition comes as Kia prepares to open a dedicated PV5 production plant in Hwaseong, with an initial annual capacity of 100,000 units, and outlines plans for further expansion of PBV production capabilities.
Kia’s success is fueled by innovations like its Electric-Global Modular Platform (E-GMP) and a multi-product flexible production system. The company has now secured a global electric vehicle award for four consecutive years, demonstrating its commitment to electrification and strengthening its position in the market. The win is further bolstered by a growing electric vehicle market, increasing demand for PBVs, and strengthening global eco-kind policies.
Kia’s stock (KOSPI: 000270) was trading at 114,000 KRW as of 3:30 PM KST today, up 0.53%.
Disclaimer: This report is based on publicly available details and is not intended as investment advice or a advice for stock trading. AI limitations may result in errors.
