Kuehne + Nagel has established a joint venture with Chinese automotive logistics group Sincero, enlarging its contract logistics footprint by almost 70 per cent.
The Swiss logistics company has been developing a strong automotive footprint in the country by organically expanding partnerships with premium European brands.
Kuehne + Nagel will enlarge its footprint in contract logistics for the automotive industry by almost 70 per cent serving major Chinese brands and Tier 1 suppliers.
Kuehne + Nagel member of the managing board responsible for contract logistics, Gianfranco Sgro says: “Contract logistics for the automotive industry is a strategic focus area for Kuehne + Nagel globally and especially in China, the biggest automotive market.
“The joint venture confirms Kuehne + Nagel’s position as a leading international provider of automotive logistics in China. Following the recent launch of our digital platform for e-fulfilment centres in China this investment further strengthens our presence in Asia.”
Sincero chairman of the board, Jiang Jun says: “Establishing the joint venture with Kuehne + Nagel is a strategic move to comply with the irreversible globalisation trend of economics and competitive landscape of the automobile logistics industry, thereby to complement each other’s strength in global network and local expertise.”