The South Korean publication claims that Hyundai Motor’s top management has received an analytical report on the company’s Russian branch and the prospects for the plant’s survival in Russia. Among other things, it says that after the events of February 2022, the Russian legal entity Hyundai – Hyundai Motor Manufacturing Rus – is experiencing serious financing problems and is unable to transact with South Korea. In addition, the plant’s efficiency was undermined by difficulties in supplying components. All this led to a shutdown of the company.

According to the newspaper, the Russian market remains attractive for Hyundai Motor and the company does not want to leave. However, an idle plant continuously generates losses related to the cost of personnel, energy supply, maintenance of equipment in good condition and other needs. In this regard, the analysis for Hyundai’s “tops” considers several options for further actions of the company in the Russian market, including the sale of the plant.

A day earlier, the AvtoVzglyad portal reported that Hyundai could announce major changes in its status in Russia in the near future – at the end of October this year (excluding exit from the market).

The South Korean publication claims that Hyundai Motor’s top management has received an analytical report on the company’s Russian branch and the prospects for the plant’s survival in Russia. Among other things, it says that after the events of February 2022, the Russian legal entity Hyundai – Hyundai Motor Manufacturing Rus – is experiencing serious financing problems and is unable to transact with South Korea. In addition, the plant’s efficiency was undermined by difficulties in supplying components. All this led to a shutdown of the company.

According to the newspaper, the Russian market remains attractive for Hyundai Motor and the company does not want to leave. However, an idle plant continuously generates losses related to the cost of personnel, energy supply, maintenance of equipment in good condition and other needs. In this regard, the analysis for Hyundai’s “tops” considers several options for further actions of the company in the Russian market, including the sale of the plant.

A day earlier, the AvtoVzglyad portal reported that Hyundai could announce major changes in its status in Russia in the near future – at the end of October this year (excluding exit from the market).