At the Hyundai plant in March 2022, after the start of Russia’s full-scale invasion of Ukraine, production was halted.
Hyundai Motor decided to sell the Russian plant in St. Petersburg – production there was stopped in March 2022. This was reported by the Russian news agency TASS in connection with Yonhap.
It was reported that the proposal to sell parts of the plant in St. Petersburg was approved today, December 19.
It was noted that the Russian company Art-Finance is buying the plant, while Hyundai Motor will continue with after-sales service and other support for Hyundai customers in Russia.
It was previously reported that Hyundai will build its first plant in the Middle East: Hyundai Motor Company and the Saudi Public Investment Fund (PIF) have signed agreements to jointly build a car production plant in Saudi Arabia.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.