ST. PETERSBURG, October 9. /TASS/. Hyundai Motor may expand exports of cars assembled in Russia to the countries of the Middle East, Victor Vasiliev, director of external relations of Hyundai Motor Manufacturing Rus, told reporters.
He did not name any specific countries.
"We can only say that this is the Middle East," he said.
In August, Hyundai began to export cars assembled in St. Petersburg to Egypt and Lebanon. The company hopes it will help it compensate the declining demand for Hyundai models in the CIS countries. By the end of 2015, the company plans to export 4,000 cars to those two countries.
Since April 2011, the company has been shipping Hyundai Solaris and Kia Rio cars to Kazakhstan, Belarus, Azerbaijan, Uzbekistan, Moldova, Armenia, Kyrgyzstan and Ukraine.
In 2015, the company plans to export 18,000 cars, down from 25,700 in 2014.
The Hyundai Motor plant in St. Petersburg became the sixth foreign car making enterprise in Russia and the company’s first enterprise there.
Hyundai Motor Manufacturing Rus produces Hyundai Solaris and Kia Rio models in a ratio of 60% and 40%, respectively. The level of the local assembly is estimated at 46%
The company employs more than 2,200 people working in three shifts.
In 2015, the plant plans to produce 228,000, down from 237,000 in 2014.