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Hyundai in talks on purchase of GM plant in St. Petersburg — city authorities

The GM plant was opened in St. Petersburg in 2008

© AP Photo/David Zalubowski

ST. PETERSBURG, August 27. /TASS/. Hyundai is holding negotiations on acquisition of the GM automobile plant in St. Petersburg, Vice-Governor of the city Evgeni Elin told TASS on Tuesday.

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The GM plant was opened in St. Petersburg in 2008. Investments into the project were estimated at $300 mln.

"Concerning GM [plant], negotiations are held with Hyundai; at least they showed interest," Elin said.

St. Petersburg also houses production facilities of Toyota, Nissan and Hyundai. City enterprises produced 376,700 cars in 2018, up 8.5% in annual terms. St. Petersburg’s share of cars production in Russia totaled 23.8% last year, according to the city committee on industrial policy and innovations.

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