Kia secures a new partner to sell its first electric PBV vans in another key overseas market
Kia is taking its electric PBV vans to a new overseas market after securing a local sales contract in Japan. The fit-for-purpose EV vans are part of Kia’s plans to become a leading total mobility solutions provider. Kia’s first electric PBV van was recently spotted in the wild ahead of its official launch.
Kia unveiled its new Platform Beyond Vehicle (PBV) business plans at the 2024 CES in Las Vegas. The new PBVs are designed as total mobility solutions or fit-for-purpose EVs loaded with advanced software.
According to Kia’s CEO, Ho Sung Song, the PBVs are tailor-made electric vans that “go beyond the traditional concept of automobiles.”
Kia says its PBVs, with their spacious, flexible interiors, “open the door to new businesses and lifestyles.” The electric vans can be used for business or personal use. Ideal clients would include delivery or transport services or even someone looking for a custom van to travel around in.
With three models (PV1, PV5, and PV7), Kia plans to cover all segments. The first due to hit the market is the mid-size PV5.
The PV5 will be available in different configurations, including basic (passenger van), van (for transport and delivery), and chassis (think of a pickup truck bed).
Kia to launch electric vans in another overseas market
We already knew Kia was planning to launch PBVs in Europe. Last week, Kia’s electric vans made their European debut at IAA Hanover.
On Tuesday, Kia announced plans to launch electric vans in another key overseas region. After signing a new local sales contract with Sojitz, Kia said it will sell PBVs in Japan starting in 2026.
The agreement comes as demand for small and medium-sized EV vans is expected to continue rising in Japan. Japan’s carbon-neutral policy calls for 30% of new car sales to be electric by 2030, and vans will play a significant role.
Kia will sell electric vans in Japan through its partnership with Sojitz, a leading local trading company.
Like in other markets, Kia’s PV5 will be the first PBV to hit the market. The partnership kicks off Kia’s plans to expand Japan’s electric van market by working with local companies to create a “PBV ecosystem” with bidirectional charging technology and more.
Kia will introduce new EV van models in Japan in the future, including the PV7, as it looks to secure global leadership.
A sneak peek
Ahead of its official debut, Kia’s PV5 electric van was spotted out testing last week. Despite the camouflage, the video from CarSpyMedia shows the boxy PV5 design. The prototype shown in January features a bold design to stand out in the electric era.
The electric van will challenge Volkswagen’s ID.Buzz in Europe. Although prices have not been officially revealed, the PV5 is expected to start at around $39,000 (€35,000) in Europe.
In comparison, the Volkswagen ID.Buzz starts at around $70,000 (€64,581) in Germany, including VAT. In the US, VW’s electric van starts at $61,545.
All PBV models will be built at Kia’s new dedicated Autoland Hwaseong plant in Korea. Set to open next year, the plant is expected to have up to 150,000 annual unit capacity. By the end of the decade, that number could double to around 300,000.
Several automakers and startups, including Ford, GM, VW, Rivian, and others, are looking to enter the growing EV van market.
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Environment
U.S. crude oil falls below $60 a barrel to lowest since 2021 on tariff-fueled recession fears
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025.
Pavel Mikheyev | Reuters
U.S. oil prices dropped below $60 a barrel on Sunday on fears President Donald Trump’s global tariffs would push the U.S., and maybe the world, into a recession.
Futures tied to U.S. West Texas intermediate crude fell more than 3% to $59.74 on Sunday night. The move comes after back-to-back 6% declines last week. WTI is now at the lowest since April 2021.
Worries are mounting that tariffs could lead to higher prices for businesses, which could lead to a slowdown in economic activity that would ultimately hurt demand for oil.
Oil futures, 5 years
The tariffs, which are set to take effect this week, “would likely push the U.S. and possibly global economy into recession this year,” according to JPMorgan. The firm on Thursday raised its odds of a recession this year to 60% following the tariff rollout, up from 40%.
Fueled by incentives from the Illinois EPA and the state’s largest utility company, new EV registrations nearly quadrupled the 12% first-quarter increase in EV registrations nationally – and there are no signs the state is slowing down.
Despite the dramatic slowdown of Tesla’s US deliveries, sales of electric vehicles overall have perked up in recent months, with Illinois’ EV adoption rate well above the Q1 uptick nationally. Crain’s Chicago Business reports that the number of new EVs registered across the state totaled 9,821 January through March, compared with “just” 6,535 EVs registered in the state during the same period in 2024.
Those numbers represent more than 50% growth in EV registrations – far beyond the expected 12% first-quarter increase nationally being projected by Cox Automotive. (!)
What’s going on in Illinois?
While President Trump and Elmo were running for re-election, they campaigned on the threat promise of canceling the $7,500 federal tax credit for EVs. Along with California Governor Gavin Newsom, Illinois’ Governor JB Pritzker made countermoves – launching a $4,000 rebate for new electric cars and up to $1,500 for the purchase of a new electric motorcycle.
At the same time, the state’s largest utility, ComEd, launched a $90 million EV incentive program featuring a new Point of Purchase initiative to deliver instant discounts to qualifying business and public sector customers who make the switch to electric vehicles. That program has driven a surge in Class 3-6 medium duty commercial EVs, which are eligible fro $20-30,000 in utility rebates on top of federal tax credits and other incentives (Class 1-2 EVs are eligible for up to $7,500).
We covered the launch of those incentives when the program was announced at Chicago Drives Electric last year, but the message here is simple: incentives work.
SOURCES: Chicago Business, Ray Cunningham; featured image by the author.
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The electric construction equipment experts at XCMG just released a new, 25 ton electric crawler excavator ahead of bauma 2025 – and they have their eye on the global urban construction, mine operations, and logistical material handling markets.
Powered by a high-capacity 400 kWh lithium iron phosphate battery capable of delivering up to 8 hours of continuous operation, the XE215EV electric excavator promises uninterrupted operation at a lower cost of ownership and with even less downtime than its diesel counterparts.
XCMG is delivering on part of that reduced downtime promise with the lower maintenance and easier repair needs of electric equipment, and delivering on the rest of it with lickety-quick DC fast charging that can recharge the machine’s massive battery in 1.5-2 hours … but that’s not the slick bit. The XCMG XE125EV can be powered up without leaving the job site thanks to its BYD battery swap technology.
We first covered XCMG and its battery swap technology back in January, and covered similar battery-swap tech being developed by MOOG Construction offshoot ZQUIP, as well – but while XCMG’s battery tech has been in production for several years, it’s still not widely known about in the West (even within the industry).
XCMG showed off its latest electric equipment at the December 2024 bauma China, including an updated version of its of its 85-ton autonomous electric mining truck that features a fully cab-less design – meaning there isn’t even a place for an operator to sit, let alone operate. And that’s too bad, because what operator wouldn’t want to experience an electric truck putting down 1070 hp more than 16,000 lb-ft of torque!?
Easy in, easy out
The best part? All of the company’s heavy equipment assets – from excavators to terminal tractors to dump trucks and wheel loaders – all use the same 400 kWh BYD battery packs, Milwaukee tool style. That means an equipment fleet can utilize x number of vehicles with a fraction of the total battery capacity and material needs of other asset brands. That’s not just a smart use of limited materials, it’s a smarter use of energy.
You can check out all the XE215EV’s specs at this tear sheet, and get an in-person look at the Chinese company’s latest electric excavator this week in Munich, Germany.
SOURCE | IMAGES: XCMG.
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