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It’s better: Astana Motors does not want to buy the Russian Hyundai plant

  • May 2, 2023
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The Kazakhstan company denied plans to take over Hyundai’s production facilities in St. Petersburg. However, this is not the end of the story. Prospective owners of such facilities

The Kazakhstan company denied plans to take over Hyundai’s production facilities in St. Petersburg. However, this is not the end of the story. Prospective owners of such facilities may fear secondary sanctions, so all decisions regarding foreigners’ domestic assets will be made with particular care and not in public.

The fact that the company Astana Motors, which assembles Korean cars in a neighboring country, refuted plans to buy a factory near St. Petersburg, TASS reports, citing a statement from representatives of this car manufacturer. It says that the Kazakhs intend to focus on deepening the localization of already produced models.

They also plan to start building a factory for the production of various components in the industrial area of ​​​​Almaty. In particular, they will start the production of car seats, multimedia systems and the production of various spare parts. The total investment will exceed one billion rubles.

Another contender for the Russian Hyundai factory is Allur Motor. She assembles Kia models in Kostanay. Here management should also be interested in expanding the business. The platform in St. Petersburg could well help with this.

The fact that the company Astana Motors, which assembles Korean cars in a neighboring country, refuted plans to buy a factory near St. Petersburg, TASS reports, citing a statement from representatives of this car manufacturer. It says that the Kazakhs intend to focus on deepening the localization of already produced models.

They also plan to start building a factory for the production of various components in the industrial area of ​​​​Almaty. In particular, they will start the production of car seats, multimedia systems and the production of various spare parts. The total investment will exceed one billion rubles.

Another contender for the Russian Hyundai factory is Allur Motor. She assembles Kia models in Kostanay. Here management should also be interested in expanding the business. The platform in St. Petersburg could well help with this.

Source: Avto Vzglyad

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