Hyundai Glovis Co., the logistics unit of Hyundai Motor Group, said Wednesday it has signed an initial pact with Chinese electric automaker BYD for partnership in the logistics business, reports Yonhap News Agency.
Global logistics
Under the “strategic” memorandum of understanding, the two companies will cooperate in global logistics forwarding services and share vessel space to ship vehicles using each other’s vessels, Hyundai Glovis said in a statement.
The company said it aims to increase the ratio of sales earned from non-affiliated clients to 50 percent by 202030.
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Source: En.yna
