Hyundai's logistics arm Glovis invests in Thailand, to roll out 150 EV trucks for 7-Eleven

Automotive logistics supply chain giant Hyundai Glovis, a subsidiary of Hyundai Motor, has announced today that it will be entering Thailand via a joint venture with two Thai logistics and automotive parts manufacturers - Eastern Air Logistics and Summit Auto Body Industry.

The new joint venture will be called Hyundai Glovis Thailand. The company didn’t reveal the value of its investment into Thailand nor breakdown of shareholding structure, but said that Hyundai Glovis holds the maximum number of shares allowed under Thai laws, which limits foreign shareholding in the logistics sector to less than 50 percent.

Hyundai Glovis Thailand also added that it has clinched a contract with Thai conglomerate Charoen Pokphand (CP) Group, owner of 7-Eleven chain of stores in Thailand as well Lotus’ hypermarts, the latter had recently taken over all Tesco stores in Malaysia.

Hyundai Glovis Thailand will deploy 150 electric trucks to deliver goods from CP Group's logistics centers to local 7-Eleven stores.

The company also said that deploying hydrogen-powered fuel cell electric trucks are also in the plan for Thailand. A separate Memorandum of Understanding has been signed with the CP Group to study the feasibility of deploying more battery EV and hydrogen fuel cell electric trucks, as well as the use drones and robots at logistics centers.

Of course, beyond servicing 7-Eleven stores, Hyundai Glovis Thailand will also service its partner Summit Auto Body Industry, transporting automotive parts to vehicle manufacturers across Thailand.