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Kia Corporation announced plans to build a new production line on the site of one of its domestic plants, dedicated to the production of purpose-built vehicles (PBVs), according to reports.

Kia said it would convert an existing building at the Hwaseong property to preduce PBVs with refurbishment scheduled to be completed by the end of 2024 and production to begin in 2025, the reports said.

The company had previously said it planned to launch PBVs based on the 1.0-litre Ray small car and the Niro crossover later this year.

It plans to sell battery-powered Niro PBVs to domestic taxi fleets and to ride hailing services in export markets.

The company claims its 2022 Niro EV has a range of around 240 miles on a single charge.

Earlier this month Kia said it aims to sell 1.2 million electric vehicles per year worldwide by the end of the decade while total vehicle sales are projected to rise to 4 million vehicles by then from 2.8 million last year.

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By GlobalData