Hyundai Glovis CEO Kim Jung-hoon (fourth from right) and officials take a photo after a signing ceremony with Thailand’s Charoen Pokphand Group on Wednesday. (Hyundai Glovis)
Hyundai Glovis said Thursday it partnered with Thailand’s No. 1 business group, Charoen Pokphand Group, to target the country’s logistics market.
Under the partnership, the two companies will start a pilot project by the end of this year by injecting electric trucks into the transportation of convenience store 7-Eleven’s products operated by CP Group across Thailand. This is expected to be the first time for an electric truck to be introduced to a Thai logistics site, the Korean firm said.
Hyundai Glovis said it had signed a memorandum of understanding with All Now, a logistics subsidiary of CP All, which is the distribution affiliate of CP Group, a day earlier. The online signing ceremony was attended by Hyundai Glovis President Kim Jung-hoon and CP All’s Chairman of Executive Committee Korsak Chairasmisak.
“With this collaboration, we aim to open an eco-friendly logistics market and strengthen our business influence in the ASEAN market, a global economic giant,” the logistics’ firm said in a statement.
CP Group is the No. 1 conglomerate in Thailand. With diverse businesses, including food, distribution, communications and media, the firm produces about 74 trillion won ($62 billion) in annual sales from 21 countries. It accounts for about 10 percent of Thailand’s gross domestic product.
By Shin Ji-hye (email@example.com)