Kuehne + Nagel has formed a partnership with Chinese automotive logistics group Sincero to invest in a joint venture focusing on contract logistics for the automotive sector.
K+N will hold majority share of the joint venture. Director Gianfranco Sgro said: “Contract logistics for the automotive industry is a strategic focus area for Kuehne + Nagel globally and especially in China, the biggest automotive market.
“Following the recent launch of our digital platform for e-fulfilment centres in China this investment further strengthens our presence in Asia.”
In recent years, Kuehne + Nagel has been developing its automotive footprint in the country by expanding the partnership with European brands. The company will now enlarge this footprint by almost seventy per cent serving major Chinese brands and Tier 1 suppliers.