Tesla has signed a one-year contract with global logistics provider Hyundai Glovis to import vehicles made in China for sale in Europe.
The value of the deal is said to be worth $422m, according to global shipping news source TradeWinds, the largest so far from a single carmaker for Glovis.
As part of the new deal, Glovis is expected to transport vehicles by ocean from the port of Shanghai. No European port has been identified as the one handling the Tesla imports, but Glovis recently signed a contract with BLG Logistics at the German port of Bremerhaven, which is serving as a hub for Glovis imports to Europe from Asia.
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