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South Korean Hyundai Motor to sell plant in Russia — Yonhap

The plant launched in 2010 had manufactured Hyundai Solaris, Hyundai Creta, Kia Rio with an annual capacity of over 200,000 units

SEOUL, December 19. /TASS/. South Korea’s largest automaker has decided to sell its Russian manufacturing plant, which has been suspended, the Yonhap news agency reported.

The sale of Hyundai Motor Manufacturing Rus LLC in Saint Petersburg was approved in an extraordinary board meeting held earlier in the day, the report said. The buyer was known as Russian firm Art-Finance LLC. The St. Petersburg plant suspended operations in March 2022 after the beginning of the special military operation in Ukraine.

The plant launched in 2010 had manufactured Hyundai Solaris, Hyundai Creta, Kia Rio with an annual capacity of over 200,000 units.

Russian Deputy Prime Minister, Industry and Trade Minister Denis Manturov said on the sidelines of the Innoprom.Kazakhstan international industrial exhibition on September 25 that a Russian company would buy Hyundai’s plant in St. Petersburg.

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