Kia delays launch of software-focused cars, unveils big hike to investment plans
Shares in the automaker tumbled on the plans announced in an investor presentation, closing down 5.5 per cent compared with a 1.6 per cent drop for the broader market
Kia have delayed their software-defined vehicle (SDV) launch to 2028, prompting a share price drop. Investment plans have increased by 30% to 41.4 trillion won (28 billion USD), focusing on electrification and software, whilst EV sales targets are reduced due to weakened demand. Hybrid sales are set to increase, and Atlas robots will be deployed in US factories.
South Korea’s Kia Corp said on Thursday it had pushed back plans to build “software-defined vehicles” by one year to 2028, and announced a hefty hike in investment plans, underscoring its struggles to catch up with the likes of Tesla.
Shares in the automaker tumbled on the plans announced in an investor presentation, closing down 5.5 per cent compared with a 1.6 per cent drop for the broader market.
Both Kia and Hyundai Motor, which together form the world’s No. 4 automotive group, are seen as laggards in self-driving technology and other software features compared to Tesla and Chinese rivals.
Kia said its first software-defined vehicle or SDV will be equipped with semi-automated driving technology for highways in 2028, while a more advanced vehicle capable of operating in city streets would be ready in early 2029.
Last year, Kia said it planned to start production of its first SDV in 2027.
Big hike in investment plans
The delay comes after Hyundai’s former president, Song Chang-hyeon, who had spearheaded the group’s SDV efforts, resigned in December, sparking concerns that the group was falling behind in developing such technologies.
He has been replaced by Park Minwoo, a former Nvidia and Tesla engineer.
Kia also said it now plans to spend 41.4trn won ($28bn) from 2026 to 2029, a whopping 30 per cent more than an earlier estimate as it seeks to boost vehicle electrification, software and new businesses.
At the same time, it cut its 2030 target for electric vehicle sales by about 20% to 1 million units, reflecting weaker demand and the scrapping of EV subsidies in the US last year.
Kia also trimmed its 2030 sales target for all vehicles to 4.13 million vehicles, which would be around 4.5 per cent share of the global market.
That would represent a 30 per cent jump from last year’s sales of 3.14 million units, when Kia had a 3.5 per cent share. It also plans to boost annual hybrid sales to 1.1 million units by 2030, up about 60 per cent from this year’s target.
Kia joined Hyundai in unveiling plans to deploy Atlas humanoid robots developed by Boston Dynamics. It will use them at a factory in the US state of Georgia from 2029.
Hyundai plans to use the robots at a new plant in Savannah, Georgia, from 2028 and has said it aims to build a factory capable of manufacturing 30,000 robots annually by that time.
Choithrams supermarkets in the UAE are introducing ticketless parking at selected stores using PARKONIC OS, aiming to enhance customer convenience. The system offers one hour of free parking validated at checkout. This initiative reflects Choithrams' commitment to improving the overall shopping experience by simplifying parking and reducing friction for customers.
UAE-based supermarket chain Choithrams has partnered with PARKONIC to introduce a streamlined, ticketless parking experience across selected store locations, marking a step forward in enhancing customer convenience beyond the in-store environment.
The initiative is powered by PARKONIC OS, a digitally managed parking platform designed to deliver a frictionless parking journey. The system removes the need for physical tickets, enabling a smoother and more efficient experience for shoppers from arrival to exit.
Three Choithrams locations, DEC Marina, JVC Manhattan, and Dubai Silicon Oasis, have been selected for the pilot phase, with the rollout expected to be completed by mid-April.
Customer-centric innovation at the forefront
The move underscores Choithrams’ continued focus on improving customer experience by addressing everyday pain points such as parking availability and access.
Under the new system, customers receive one hour of complimentary parking. Validation is completed at checkout by entering the vehicle’s license plate number, with the applicable duration automatically applied upon exit.
“At Choithrams, being customer-centric is at the heart of what we do, and we are always looking at ways to make the shopping experience as smooth as possible,” said Mark Mortimer-Davies, CEO of Choithrams. “We understand that something as simple as finding a parking space can shape the overall visit, no one wants to arrive and struggle to find a spot.”
He added: “We’re putting our customers’ needs first, not only as a retailer, but as a brand that aims to make everyday experiences easier. This marks a step towards smarter, more integrated retail infrastructure, and we’re delighted to be working with PARKONIC to make this happen.”
Smarter parking for a seamless retail journey
PARKONIC’s technology aims to improve parking flow and utilisation by introducing structured, tech-enabled management across retail locations.
“Retail today is no longer just about what happens inside the store, but how seamlessly the entire visit comes together,” said Imad Alameddine, CEO of PARKONIC. “Our collaboration with Choithrams focuses on removing everyday friction points, starting from the moment customers arrive.”
He added: “By simplifying parking into a seamless, ticketless experience, we are supporting a more effortless and enjoyable journey for customers.”
Beyond the complimentary period, parking is priced at Dhs15 per additional hour. Payments can be made via on-site options, including QR codes or automatic deductions through SALIK accounts, where applicable.
The rollout reflects Choithrams’ broader commitment to operational excellence and customer-centric innovation, as retailers across the UAE increasingly invest in technology to enhance end-to-end shopping experiences.
Meta unveiled Muse Spark, its initial AI model from the "Avocado" team, aiming to rival industry leaders. While showing promise in language and visual understanding, it lags in coding. Initially available on Meta AI, it will replace Llama models across platforms. Meta envisions monetisation through shopping integration and enhanced user engagement, leveraging AI for everyday tasks and extended reasoning modes.
Meta Platforms on Wednesday unveiled Muse Spark, the first artificial intelligence model from a costly team it assembled last year to catch up with rivals in the AI race.
Shares of the company extended gains to trade up nearly 7 per cent.
US tech giants are under pressure to prove their massive AI outlays will pay off. The stakes are especially high for Meta after it hired Scale AI CEO Alex Wang last year under a $14.3bn deal and offered some engineers pay packages of hundreds of millions of dollars to staff a new superintelligence team, a bid to propel itself back into the AI world’s top ranks after a disappointing showing with its Llama 4 models early last year.
Superintelligence refers to AI machines that could outthink humans. Muse Spark is the first in a new series of models, known internally as Avocado, from that team.
The model, the first the company has released in about a year, initially will be available only on the lightly used Meta AI app and website. In the coming weeks, it will replace the existing Llama models powering chatbots on WhatsApp, Instagram, Facebook and Meta’s collection of smart glasses, the company said.
Meta did not disclose Muse Spark’s size, a key measure typically used to compare an AI system’s computing power with rivals. It also changed course from previous open releases of its Llama models, instead sharing only a “private preview” of Muse Spark with unnamed partners.
“This initial model is small and fast by design, yet capable enough to reason through complex questions in science, math, and health. It is a powerful foundation, and the next generation is already in development,” the company said in a blog post.
Independent evaluations of Muse Spark’s performance showed it catching up with top models from market leaders Google, OpenAI and Anthropic in some areas, like language and visual understanding, but lagging in others like coding and abstract reasoning.
The model tied for fourth place on a broad index of AI tests compiled by evaluation firm Artificial Analysis.
Meta CEO Mark Zuckerberg had tempered expectations for early performance, telling investors in January that he thought the team’s first models “will be good but, more importantly, will show the rapid trajectory that we’re on.”
“I expect us to steadily push the frontier over the course of the year as we continue to release new models,” he had said.
Wang, who runs the new superintelligence team, acknowledged in a series of social media posts on Wednesday that “there are certainly rough edges we will polish over time in model behavior.”
He said bigger versions of the model were in development and that Meta was planning to release at least some of them openly.
With the release, Meta gave a clearer sense of how it aims to use its models to make money, teasing shopping features embedded within its Meta AI chatbot that point users directly to products they can purchase.
Broadly, the company is betting that applying AI to everyday personal tasks will boost engagement among the more than 3.5 billion users across its social media platforms, potentially giving it an edge over rivals with a smaller reach.
Muse Spark can also help users with tasks such as estimating the calories in a meal from a photo or superimposing an image of a mug on a shelf to see how it looks, the company said.
An extra Contemplating Mode, which runs multiple agents simultaneously to boost reasoning power, would allow Muse Spark to take on the extended thinking modes of Google’s Gemini Deep Think and OpenAI’s GPT Pro.
Meta said people could use the mode for efficiently planning a family vacation, having one agent draft a travel itinerary while the other looks up kid-friendly activities.
Some moments do not ask whether you are ready. They simply arrive, and in arriving, they reveal you.
This is one of those moments.
Each one of us has our role to play, diligently and resolutely. This is how we display our resilient spirit, which brings hope, progress and continued prosperity to the nation.
Recent weeks have offered a clear reflection of Abu Dhabi: of our people, our institutions, and the values that have shaped this place across generations.
At DCT Abu Dhabi, we acted swiftly in a way that reflects who we are. As travel plans were disrupted, we directed hotels across the emirate to extend stays for affected visitors, with the cost covered by the department.
A guest in Abu Dhabi is truly under our care, in the most ancient and honoured sense of this culture.
That decision drew from something deeper than policy. It drew from a tradition of hospitality woven into the identity of this land, a tradition older than any tourism target.
Hospitality is deeply ingrained in our culture, and the UAE has long been a welcoming crossroads for travellers. Visit Zayed National Museum, and you can learn so much about this aspect of our nation’s history. I often think about an exhibit that has stayed with me, particularly in recent weeks.
It dates back to 1820, when Captain Thomas Thompson, a British naval officer, recorded in his diary that he had asked the local sheikhs whether his troops might use a mosque for a Christian service.
The response was unhesitating. The mosques, they told him had been built for prayer, and all who sought to pray were welcome within them. In the midst of a moment that might have produced hesitation or refusal, the people of this land offered openness and welcome.
Wise leadership
The values experienced in 1820 did not belong to that moment alone. They have been carried forward, generation by generation, and are still shaping how we are as a nation today. In the present, they find their fullest expression in the example set by our nation’s leaders.
UAE President Sheikh Mohamed bin Zayed Al Nahyan has spoken of this continuity with a clarity that resonates deeply. Writing of the late Sheikh Zayed’s enduring legacy, he described the compassion, resilience and care for people as the values that guide the nation. As Sheikh Mohamed says, Sheikh Zayed’s vision reminds us that humanity and solidarity will always prevail.
Those words are a mandate. For all of us at DCT Abu Dhabi, as well as residents and citizens across the UAE, it is our honour to serve the nation by continuously remaining true to that vision.
Staying the course
Our hotels are open, and our museums are welcoming visitors. Saadiyat Culture District continues to offer one of the finest cultural experiences in the world, and residents across the emirate continue to come together, bringing life to the spaces built for them.
That continuity is the result of deliberate choices made by thousands of people across this sector. From hotel staff and museum curators to festival organisers and heritage guides, everyone has shown up, day after day.
This collective effort is our duty, our commitment and most importantly, our honour, and we uphold it with pride.
Live updates: Will US–Iran ceasefire hold or crack? What you need to know
As a fragile US–Iran ceasefire takes hold, attention turns to the Strait of Hormuz, oil markets and regional stability — with businesses and governments watching closely
President Donald Trump mimics firing a gun during a news conference in the White House briefing room about the war in Iran on Monday, April 6, 2026 (Getty Images)
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A fragile two-week ceasefire between the US and Iran has taken effect after weeks of conflict that disrupted global energy markets and brought shipping in the Strait of Hormuz to a near standstill.
Brokered through Pakistan at the last minute, the truce has eased immediate fears of escalation, but key flashpoints remain unresolved, from control of Hormuz to ongoing regional hostilities.
While oil prices have eased and diplomatic talks are expected to follow, shipping firms, governments and markets remain cautious, with limited vessel movement and continued security risks across the region.
Gulf Business will bring you the latest developments, reactions and market impact as the situation evolves.
Saturday, 11th April 2026, 06:00
The US and Iran were to hold negotiations in the Pakistani capital Islamabad on Saturday to end their six-week-old war, although Tehran threw the talks into doubt by saying they could not begin without commitments on Lebanon and sanctions.
The US delegation, led by Vice President JD Vance and including President Donald Trump’s special envoy Steve Witkoff and son-in-law Jared Kushner, was on its way to Islamabad after a refuelling stop in Paris.
The Iranian delegation, led by parliamentary Speaker Mohammad Baqer Qalibaf and Foreign Minister Abbas Araqchi, arrived on Friday.
U.S. Vice President JD Vance speaks to the media before boarding Air Force Two to return to Washington, D.C., after the White House announced he would be leading the U.S. delegation in upcoming peace talks with Iran, from Budapest Ferenc Liszt International Airport in Budapest, Hungary, April 8, 2026. REUTERS/Jonathan Ernst/Pool
Friday, 10th April 2026, 06:33
TOKYO, April 10 (Reuters) – Japan’s Nikkei share average surged on Friday and was on track for its sharpest weekly gain in eight months, as optimism over corporate earnings and technology investment outweighed concerns about a fragile ceasefire in the Middle East.
The benchmark Nikkei 225 Index .N225 rose 1.65% to 56,817.54, poised for a 6.8% weekly jump that would be its best since mid-August. The broader Topix .TOPX edged up just 0.05% to 3,743.17.
The Nikkei and other global indexes rose sharply on Wednesday, following the announcement of a ceasefire to the nearly six-week long war in Iran that has nearly halted oil shipments from the region.
All eyes are now on talks in Pakistan this weekend, as representatives from the United States and Iran meet to solidify the deal to end hostilities.
Thursday, 9th April 2026, 21:14
JERUSALEM/BEIRUT/ISLAMABAD, April 9 (Reuters) – Israeli Prime Minister Benjamin Netanyahu said on Thursday he is seeking direct talks with Beirut, a day after the worst bombardment of the war killed more than 300 people in Lebanon and placed Donald Trump’s US-Iran ceasefire in jeopardy.
Thursday, 9th April 2026, 17:40
DUBAI/BEIRUT/ISLAMABAD, April 9 (Reuters) – Israel bombed more targets in Lebanon on Thursday, putting the US-Iran ceasefire into further jeopardy after the biggest Israeli attacks on its neighbour of the war killed more than 250 people and threatened to torpedo Donald Trump’s truce.
In Pakistan, authorities locked down the capital Islamabad in anticipation of the war’s first peace talks, cutting off access to a 3-km (2-mile) zone around the five-star luxury Serena Hotel. Both the US and Iranian delegations are expected to stay at the hotel, which told all guests to check out until Sunday as it had been “requisitioned” for “an important event”.
But there was no sign Iran was lifting its near-total blockade of the Strait of Hormuz, which has caused the worst disruption to global energy supplies in history. Tehran said there would be no deal as long as Israel was striking Lebanon.
In the first 24 hours of the ceasefire, just a single oil products tanker and five dry bulk carriers sailed through a strait that accommodated 140 ships a day before the war.
Lloyd’s List Intelligence tracked just three vessels transiting the Strait of Hormuz since the US-Iran ceasefire was announced early on Wednesday, all with current or past links to Iran.
Here is the rest of Lloyd’s List Intelligence’s update for Thursday, 9 April:
Another three vessels are approaching the Strait of Hormuz or are positioned to transit the strait (all via Larak Island)
Preliminary numbers show there were 14 transits of the strait on April 7
Iran’s approval system for ships being granted safe passage through the Strait of Hormuz remained unchanged on Wednesday. The prospect of increased traffic through the strait, however, is expected to increase the number of vessels having to pay a multimillion dollar toll to transit
Last week was the busiest since the start of the conflict with 72 transits, however, traffic is still 90% below normal volumes
Thursday, 9th April 2026, 08:30
As he has done throughout this regional crisis, US President Donald Trump has taken to his Truth Social account once again to issue further threats to Iran if certain demands from the US aren’t met. It’s expected that US and Iranian officials will meet in Pakistan on Friday to begin talks.
Thursday, 9th April 2026, 04:54
DUBAI/TEL AVIV/BEIRUT/BUDAPEST, April 8 (Reuters) – Israel pounded Lebanon with its heaviest strikes yet on Wednesday, killing hundreds of people and drawing a threat of retaliation from Iran, which suggested it would be “unreasonable” to proceed with talks to forge a permanent peace deal with the United States.
The warning from Iran’s lead negotiator, parliament speaker Mohammed Bager Qalibaf, laid bare the continued volatility in the region following Tuesday’s ceasefire announcement by President Donald Trump. The two sides have laid out sharply contrasting agendas for peace talks set to start on Saturday, but it was unclear whether the two-week ceasefire would hold until then.
Qalibaf said Israel had already violated several conditions of that ceasefire by ramping up its parallel war against the Iran-aligned militia Hezbollah, while the US had violated the agreement by insisting that Iran abandon its nuclear ambitions.
“In such a situation, a bilateral ceasefire or negotiations were unreasonable,” he said in a statement.
Israel and the United States both said the two-week ceasefire did not cover Lebanon, and Israeli Prime Minister Benjamin Netanyahu said the strikes would continue.
“I think the Iranians thought that the ceasefire included Lebanon, and it just didn’t,” US Vice President JD Vance, who will lead the US delegation, told reporters in Budapest.
The two sides appeared to be far apart on Iran’s nuclear program as well – one of the factors that Trump cited as the basis for war.
Thursday, 9th April, 4:49am
Lebanon’s Hezbollah said early on Thursday it fired rockets at northern Israel in its first attack against the country since the United States reached a two-week ceasefire agreement with Iran.
Hezbollah said in a statement that its attack came in response to what it described as Israeli ceasefire violations, after Israel launched its biggest attack on Lebanon in this war on Wednesday.
Thursday, 9th April 2026, 04:01
LONDON (Reuters) – The war that closed the Strait of Hormuz has ended – for now. But Tehran’s demand to act as toll booth keeper at the world’s most critical oil chokepoint could leave energy markets vulnerable and hardwire higher prices for years to come.
The US and Iran agreed on Tuesday to a two-week ceasefire brokered by Pakistan, subject to Tehran pausing its blockade of oil and gas traffic through the strait, according to US President Donald Trump.
An Iranian official said on Wednesday that the vital waterway, through which around a fifth of the world’s oil and gas flowed before the US-Israeli war on Iran began nearly six weeks ago, could be reopened by Friday in a limited fashion under Iranian control.
Tehran had also indicated on Tuesday that, under a permanent peace deal, it would seek to charge a fee for ships transiting the strait, which is just 34 km (21 miles) wide at its narrowest point between Iran and Oman.
With full details of the ceasefire deal still unclear, some media reports indicate that Oman has strongly pushed back, making clear that no such toll regime is acceptable under existing agreements, while others suggest that such a tolling system may already be in place.
Trump said in an interview with ABC News on Wednesday that the US was also thinking about setting up a joint venture to charge ship tolls for access through Hormuz.
How such a scheme would operate in practice remains far from clear. But Iran may hold the upper hand. The conflict has demonstrated Tehran’s ability to strike dozens of vessels using drones, missiles and sea mines – a capability that gives it powerful leverage even without a formal blockade.
Wednesday, 8th April 2026, 22:35
(Reuters) – The UAE will seek clarification on the terms of the U.S.-Iran two-week ceasefire agreement to ensure Tehran’s full commitment to a cessation of attacks on the region and “unconditional reopening” of the Strait of Hormuz, a foreign ministry spokesperson said in a post on X.
The spokesperson stressed the need for a comprehensive approach that addresses Iranian threats, including Tehran’s nuclear and military capabilities and its proxies in the region.
Wednesday, 8th April 2026, 15:45
(Gulf Business) UAE downs missiles, Kuwait infrastructure hit despite ceasefire – read more here.
The developments come just hours after Donald Trump announced a two-week ceasefire agreement with Iran
Wednesday, 9th April 2026, 09:59
Editor’s note: The Strait question — will Iran reopen Hormuz after Trump’s ceasefire?
Gulf Business group editor, Gareth van Zyl, wrote an opinion piece reacting to the ceasefire announcement. You can read it in full here. Below is an extract:
Iran has indicated it wants to retain a level of control over the Strait as part of any broader agreement. The US, meanwhile, has made clear that full reopening is essential.
Read more: This is Iran’s 10-point proposal to end the war
That tension sits at the heart of the current ceasefire.
It also reflects a familiar negotiating style from Trump. In his 1987 book, The Art of the Deal, he describes starting from maximalist positions before stepping back: a strategy that can create leverage, but also unpredictability.
The question now is whether that approach will translate into a lasting outcome.
Wednesday, 9th April 2026, 03:00
Trump agrees to two-week Iran ceasefire, drops threat to destroy ‘whole civilisation’ — read the full article here.
This is Iran’s 10-point proposal to end the war — read the full article here.
Dubai to install EV chargers at mosques under new deal
The project will include the installation of modern charging stations, along with maintenance, performance monitoring, secure payment systems and advanced energy management technologies
Islamic Affairs and Charitable Activities Department (IACAD) has signed a framework agreement with Emarat EV Charging Stations Company (UAEV) to develop and operate electric vehicle (EV) charging infrastructure across mosque parking areas in Dubai.
The agreement grants UAEV temporary site occupation licences to install and manage EV charging stations, as part of efforts to integrate sustainable mobility solutions into community infrastructure. The contract runs for eight years, with an option to renew, supporting the long-term development of the project in line with clean energy and smart city objectives.
The project will include the installation of modern charging stations, along with maintenance, performance monitoring, secure payment systems and advanced energy management technologies aimed at improving efficiency and reducing environmental impact. A dedicated digital application will also allow users to locate available charging stations.
Ahmed Darwish Al Muhairi, Director General of IACAD, said the initiative represents a shift towards developing mosque services within a broader sustainability-focused ecosystem that anticipates future community needs. He added that integrating clean energy solutions into mosque facilities strengthens their role as community hubs while aligning with national strategies on energy, environment and smart transformation.
Engineer Ahmed Al Kaabi, Board Member of UAEV, said: “This agreement reflects the importance of effective partnerships in advancing sustainable mobility across the UAE. Through joint efforts with IACAD to deploy electric vehicle charging infrastructure in mosque facilities, we contribute to integrating clean transport solutions into community amenities and supporting the country’s transition toward a low-emissions future.”
Ali Al Darwish, Acting Chief Executive Officer of UAEV, said the collaboration represents a practical step towards expanding EV charging services in community-centric locations, while maintaining a structured approach to scaling the charging network.
Consultant Engineer Ali Al Halyan Al Suwaidi said the project is based on advanced technical standards, incorporating the latest EV charging technologies with a focus on safety, operational efficiency and future scalability, supported by integrated energy management and monitoring systems.
The initiative highlights IACAD’s efforts to embed sustainability and smart infrastructure into religious and community facilities, positioning mosques as part of Dubai’s broader urban development strategy.
