November 22, 2024

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Kim Tae-woo (left), managing director of the shipping division at Hyundai Glovis, and Wang Junbao, general director of the corporate division at BYD, shake hands at the signing ceremony held at BYD headquarters in Shenzhen, Guangdong Province, China on Monday. (Hyundai Glovis)

Hyundai Glovis, Hyundai Motor Group’s logistics and distribution subsidiary, said Wednesday it had partnered up with China’s BYD, the world’s biggest electric vehicle maker, on automotive transport across the ocean.

Kim Tae-woo, managing director of the shipping division at Hyundai Glovis, and Wang Junbao, general director of the corporate division at BYD, participated in a signing ceremony for a memorandum of understanding on Monday at BYD headquarters in Shenzhen, China.

Based on the agreement, Hyundai Glovis will use the extra freight space of BYD’s pure car and truck carrier. BYD will also consider exporting its EVs through Hyundai Glovis’ car carrier vessels.

The battery giant plans to use the freight forwarding service by Hyundai Glovis, which will coordinate and organize the shipments across the supply chain on behalf of the EV maker.

Last year, the logistics company shipped over 320,000 units of 12-meter-length containers filled with automotive parts, batteries, steel and equipment overseas.

In June this year, Hyundai Glovis vowed to expand its sales volume in non-affiliated client companies to take up 50 percent in the next five years. Its largest clients are key affiliates such as Hyundai Motor Group. By 2030, it will add 38 container fleets to the current 90 units.

“With the competitive edge in mobility transportation, we will further expand logistics partnerships with global carmakers,” said an official from Hyundai Globis.

By Byun Hye-jin (hyejin2@heraldcorp.com)