South Korean company Hyundai Motor is ready to sell its stake (70%) in the St. Petersburg plant to the Russian company "Art-Finance" (the new owner of Volkswagen's facilities in Russia), negotiations on the deal are in the final stage.
At the same time, the contract may include a clause on the repurchase of production facilities. The contract amount is 140 thousand won (approximately 10 thousand rubles). In an official release, Hyundai Motor notes that the company will continue after-sales service of its equipment in Russia.
The St. Petersburg plant, which was built in 2010, produced Hyundai cars. Production volume exceeded 200 thousand cars per year. The company has been idle since March 2022. It is known that 30% of the plant belongs to Kia. The company is also considering selling its Russian assets.
It is specified that another 10,000 cars can be assembled from the remaining spare parts at the plant. If you bring the missing parts from China or Kazakhstan, then 70 thousand cars. The Ministry of Industry and Trade of Russia hopes that the enterprises will be restarted as soon as possible.
Earlier it was reported that Chinese Chery SUVs will be assembled at the former Volkswagen plant in Kaluga.
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