Ex-Hyundai Motor plant in St. Petersburg resumes operations after nearly two years of downtime

Staff returning to work, first cars planned for release by mid-year

The ex-Hyundai Motor plant - Hyundai Motor Manufacturing Rus in St. Petersburg - has emerged from downtime after a nearly two-year hiatus. Before the plant's shutdown on March 1, 2022, it produced Hyundai Creta, Hyundai Solaris, Kia Rio, and Kia Rio X-Line.

The South Korean company sold its assets of the enterprise to the Russian company "Art-Finance" for a symbolic price at the end of December 2023 and stated that it incurred losses of $219.19 million. Along with the plant's facilities, the new owner obtained the right to use warehouse stocks of components for assembling Hyundai Solaris, Hyundai Creta, and Kia Rio, but not under brands associated with Hyundai. This is estimated to be more than ten thousand cars.

For now, the plant is only beginning to return to its former life - according to the company's press service, work is currently underway to train employees and service equipment. The company's staff is about 800 people - it was optimized in February 2023.

The Ministry of Industry and Trade previously noted that the department expects the first cars to roll off the assembly line of this plant after its launch by mid-year.

Hyundai Motor has already assured that it is not completely leaving the country: all obligations for warranty and service maintenance of its cars in Russia will be fulfilled.

Sources:
IA «TASS» «Avtovoz»
2024-01-09 16:57:37 Cars «Art-Finans» Hyundai Motor
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