Hyundai Glovis, BYD seek strategic alliance on car exports

Quick Summary:

Hyundai Glovis Co.has inked a memorandum of understanding with Chinese electric vehicle maker BYD Co.to form a strategic alliance on car transportation as the South Korean logistics company is seeking to secure foreign automaker clients beyond its affiliates Hyundai Motor Co.and Kia Corp.

Hyundai Glovis, the world's third-largest car shipping company, operates 81 70 PCTCs as of 2023.BYD, China's No.1 EV maker, recently began to run two PCTCs under a long-term lease agreement.

In 202, Hyundai Glovis shipped abroad automotive parts, EV batteries, steel sheet and car manufacturing equipment equivalent to more than 320,000 units of 12 meter, or 40-foot containers.

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Article Details

Category: Economy

Markets: South KoreaChinaGermany

Topics: Global Units Vehicle Transportation Chinese Glovis Motor Hyundai Maker Strategic Clients

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-25 @ 16:01:17 (3 days ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 307 words

Reading Time: 2 minutes read

Sentences: 24 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 22704167

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Official Website: kedglobal.com

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