Korean-based car carrier Eukor has renewed two contracts with Hyundai for export volumes from India and Turkey.
The first with Hyundai Motor India (HMI) is for three years and will start from the beginning of July this year. It builds on Eukor’s export business with Hyundai, which started a decade ago when Hyundai set up production in India at Chennai.
Hyundai Motor India is exporting the Santro, i10, i20 and Accent to a number of global markets.
In the second contract renewal, which is also for three years, Eukor will move volumes from Hyundai`s production plant near Istanbul, Turkey .
“The extentions of the contracts are of importance to Eukor and our dedication to serve Hyundai on a global basis,” Eukor spokesman Espen Hofland told Automotive Logistics News, though he was not prepared to go into further details about the contracts.
This month Hyundai Motors India started shipping complete knock-down (CKD) kits of its three-door i20 model from its plants in Sriperumbedur, near Chennai, for assembly at the Assan Hyundai Motor plant near Istanbul in Turkey.
The Korean carmaker is beginning with shipments of 50,000 units from Chennai, a move instigated by the lower import duties and high demand for the vehicle in Europe according to the company. However, industry commentators have speculated that current labour problems in Chennai could also be behind the move. Striking workers forced Hyundai Motor to stop all production in India again this month in the fourth strike since 2008 at Chennai. Despite this Hyundai has said that India will remain the main production hub for the i20.