K+N, Sincero enter JV targeting auto industry

Kuehne + Nagel (K+N) and Chinese automotive logistics group Sincero are entering a joint venture (JV) to target the automotive industry – with the former company holding the majority share in the agreement.

“Contract logistics for the automotive industry is a strategic focus area for Kuehne + Nagel globally and especially in China, the biggest automotive market,” said Gianfranco Sgro, a member of K+N’s managing board.

The company has been investing in its Asian presence, recently launching a digital platform for e-fulfilment centers in China. In a statement, the company said it will enlarge its automotive footprint by almost 70y percent, “serving major Chinese brands and Tier 1 suppliers.”