Hyundai motors completed its 10 years of business partnership with the Chennai port trust on 27th July, Wednesday, this year. A wharfage charge of Rs 19.69 crore was refunded by the Trust to the carmaker company and the cheque was handed over by Chennai Port Trust Chairman Cyril C. George to Y.K. Koo, Managing Director of Hyundai Motor.
Around 16 years ago, the car maker started shipping out cars from the Chennai port and it shipped over 2 million vehicles from the country, with its agreement form the port, since 2006. The company received the amount of Rs.165 crore as a refund in the form of wharfage from the Port Trust in 2006.
Prior to its agreement with the Chennai port, Hyundai had exported 300,000 vehicles through the same route.
The port not only helped to become the carmaker the no. one exporter but also has played an important role in its operations globally, said the Managing director of the car maker in its relations with the Chennai Port.
Since the company exported 2.5 lakh units from India in 2015, this year, expects its shipments at 1.9 lakh units, which means a total decline of 24%.
