Hyundai Glovis, a logistics unit of South Korea’s Hyundai Motor Group, on June 20 said it has set up a truck-based freight transport company in the United States.
Through its US affiliate Glovis America, Hyundai Glovis has established Global Expedited Transportation, to enter the local truck-based freight shipping market, the company said in a statement.
“GET will deliver auto parts shipped from Korea to Hyundai Motor and Kia Motors’ plants in the eastern part of the US from western ports. Moreover, it will secure ‘return cargo’ from local companies when trucks return to the east from the west helped by Glovis America’s sales network,” a company spokesman said.
The US truck-based cargo transport market is estimated at 726 trillion won ($620 billion) annually. Trucks account for 80 percent of overall cargo transportation, with the remainder transported by airlines, railways and ships, it said.
By Ram Garikipati and newswires (firstname.lastname@example.org)