Hyundai sells its factory in Russia
- December 19, 2023
- 0
South Korean automobile company Hyundai Motor has approved a plan to sell its assets in the Russian Federation. This is reported on the company’s website, according to Ukrinform.
South Korean automobile company Hyundai Motor has approved a plan to sell its assets in the Russian Federation.
This is reported on the company’s website, according to Ukrinform.
As noted, the board of directors of Hyundai Motor Company approved the plan of LLC “Art-Finance” to sell all its shares in Hyundai Motor Manufacturing Rus (LLC “KHMRP”).
St. Petersburg, whose work has been suspended since March 2022. We are talking about the facility in St. Petersburg. Hyundai is currently negotiating the details of the deal with Art-Finance.
“In order to support Hyundai car owners in the Russian Federation, Hyundai will continue to provide after-sales service and other types of customer services,” the company added.
St. with its full production cycle. The Hyundai Motor plant in St. Petersburg was opened in 2010. Before production ended, the company was producing 200,000 cars each year.
As reported, foreign companies trying to exit Russia face serious costs as the Russian Federation demands huge discounts on asset sales and resists this in every way.
Source: Ukrinform
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