Kia Leading the e-Mobility Market... Establishes 'Purple M' with Code42

Business Promotion Based on Integrated Mobility Platform 'Umos'
Determined to Lead the Electric Vehicle Ecosystem... Seo Young-woo Appointed CEO of PurpleM

[Asia Economy Reporter Jihee Kim] Kia Motors is accelerating its push into the future mobility market by establishing a mobility-specialized company called 'Purple M.'

On the 20th, Kia Motors announced that it will establish 'Purple M,' a company specializing in providing customized e-mobility services based on electric vehicles, in partnership with Code42. Kia Motors has newly established a dedicated business corporation to effectively respond to changes in the mobility market and to expedite business execution. Code42 will invest in Purple M and participate in its board of directors to strengthen collaboration. Both companies plan to jointly realize their goal of providing new-concept mobility services and leading innovation in the future mobility market.

Song Hoseong, President of Kia Motors, said, "Code42 is the top domestic company in the field of future innovative technologies and the optimal partner to successfully promote differentiated e-mobility service businesses." He added, "With the newly established Purple M at the center, Kia Motors will become a core player leading the future e-mobility era."

The company name combines 'Purple,' symbolizing the color purple, and 'M,' representing mobility. Purple symbolizes a challenging attempt to break existing conventions and frameworks, embodying the will to implant innovative DNA to lead the future mobility ecosystem. In fact, Purple M plans to operate with core values such as swift decision-making and bold execution to respond to the rapidly changing mobility service industry.

Purple M will promote its business based on UMOS, an integrated mobility platform that consolidates Code42's technological capabilities. UMOS is an integrated platform that provides various mobility services such as car-hailing, car-sharing, on-demand taxis, and smart logistics using various future transportation means including autonomous vehicles, drones, and delivery robots. By utilizing UMOS, Purple M aims to build an e-mobility-centered ecosystem and lead a sustainable electric vehicle ecosystem in the future. Currently, mobility services are mainly focused on internal combustion engine vehicles, so there is an expectation to create new business opportunities.

Kia Motors has established 'Purple M,' an e-mobility specialized company based on electric vehicles tailored to customers, and is strengthening cooperation with Code42. Song Ho-sung, President of Kia Motors (left), and Song Chang-hyun, CEO of Code42, are exchanging opinions on the business and shaking hands. (Photo by Kia Motors)

The chairman of the board will be Song Changhyun, CEO of Code42. Seo Youngwoo, former CEO of the carpool service startup 'Poolus,' has been appointed as the CEO of Purple M. Kia Motors explained that Seo is the right person to lead Purple M based on his experience in operating mobility service businesses. CEO Song stated, "Our direction is to make Purple M encompass all areas from e-mobility infrastructure to services," and added, "UMOS, which consolidates Code42's core technologies, will act as the core engine completing the e-mobility ecosystem."

Purple M also plans to actively build partnerships for rapid business execution. It will expand cooperation to allow more customers to experience services provided by the e-mobility infrastructure platform and create a flexible cooperation system. In particular, by collaborating with various mobility market players within the regulatory framework, Purple M aims to contribute to revitalizing the domestic mobility industry and present a standard for a win-win model in the post-COVID-19 era.

Meanwhile, with the establishment of Purple M, Hyundai Motor Group and Code42 have built a closer cooperative relationship. Code42, an autonomous driving TaaS company, attracted attention since its establishment early last year by gathering core researchers in AI, autonomous driving, and mobility from domestic and international IT companies. Last year, Hyundai Motor and Kia Motors made strategic investments of 2 billion KRW and 15 billion KRW respectively in Code42. Kia Motors is also cooperating in developing PBV business-dedicated mobility services and electric vehicle-specialized in-vehicle infotainment systems.

This content was produced with the assistance of AI translation services.