Tesla Giga Shanghai Remains an Export Hub, Striking $422M Deal with Hyundai Glovis to Deliver its Cars

von Eva Fox Dezember 25, 2021

Tesla Giga Shanghai Remains an Export Hub, Striking $422M Deal with Hyundai Glovis to Deliver its Cars

Photo: Tesla China

Giga Shanghai remains Tesla's export hub in 2022 as the company struck a $422 million deal with South Korean logistics company Hyundai Glovis to supply its vehicles worldwide. Since Giga Berlin and Giga Texas will initially produce a limited number of vehicles, the manufacturer's Chinese factory will support the distribution of vehicles around the world.

Tesla's Shanghai factory will remain the company's export hub in the short term, as confirmed by the signing of the latest deal with the delivery company. The company has signed a $422 million one-year contract with South Korean logistics company Hyundai Glovis to deliver vehicles produced at Giga Shanghai in China and to other countries. The contract is the largest that the logistics company has received from a single automaker since it entered the industry 13 years ago.

At the moment, Giga Shanghai manufactures Model 3 and Model Y cars, the most popular Tesla models, and ships them not only to China and neighboring countries, but also to Europe. The manufacturer's factory in China continues to expand as global demand for Tesla vehicles remains strong and delivery times for some variants of models sometimes increase to several months. Since Giga Berlin and Giga Texas are not yet operational—and when they are, will not be able to immediately hit volume production—in 2022, Giga Shanghai will once again be a main pillar for Tesla's global operations and delivery logistics, playing a key role in overall deliveries.

© 2021, Eva Fox | Tesmanian. All rights reserved.

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