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Hyundai Glovis wins 2.2 tln-won vehicle delivery deal

Corporate Newsroom 10:24 September 14, 2022

SEOUL, Sept. 14 (Yonhap) -- Hyundai Glovis Co., the logistics unit of Hyundai Motor Group, said Wednesday it has received a record 2.2 trillion-won (US$1.6 billion) vehicle delivery deal from a global carmaker.

Under the deal, Hyundai Glovis will deliver the unidentified carmaker's vehicles to Europe, the United States and Asia for three years from 2023, the company said in a statement.

In 2020, the company signed a five-year vehicle delivery deal with Volkswagen Group and has strengthened its status in the vehicle shipping market.

Hyundai Glovis used to earn most of its sales from its affiliates Hyundai Motor Co. and Kia Corp.

But it raised the ratio of sales from other carmakers, domestic and foreign, to 61 percent in 2021 from 55 percent a year earlier.

This file photo offered by Hyundai Glovis shows a pure car and truck carrier named Glovis Stella. (PHOTO NOT FOR SALE)(Yonhap)


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