The Korean company is selling its stake in the St. Petersburg plant Hyundai Motor Manufacturing Rus to the Russian company Art-Finance LLC.
The Hyundai Motor Manufacturing Rus (HMMR) enterprise, which is located in St. Petersburg, has been idle since the spring of the year before last. At the same time, earlier the plant was partially restarted in order to produce parts, weld and paint bodies for Hyundai Solaris: then they were sent to the assembly line of the Kazakh plant (located in the city of Almaty), where the final assembly of cars that were not intended for the Russian car market took place.< /p> 
The company previously had to extend the HMMR plant shutdown several times. The latter, which runs until December 31, 2023, was announced early last month. Until the spring of 2022, the staff of the Russian Hyundai plant included 2,537 people, while the current staff, according to the latest data, has about 800 employees, they work in one shift.
Now the St. Petersburg plant resumed work after almost two years of inactivity, reports Autonews.ru with reference to the press service of the enterprise. It is reported that personnel training and equipment maintenance are currently being carried out at the production site.
Discussions are currently ongoing on the terms of the deal between Hyundai Motor and the Russian buyer of a stake in HMMR. The Koreans officially announced the sale of the plant several weeks ago. It is known that the future owner of the HMMR plant will be Art-Finance LLC, a structure that is part of the large auto dealer holding company Avilon. By the way, earlier the same company bought the former enterprise of the German concern Volkswagen, which is located in Kaluga, now this site is still in idle mode, they plan to restart it this year.
Let us remind you that earlier details about the deal were revealed by the Minister of Industry and Trade of the Russian Federation Denis Manturov. According to him, the deal to sell Russian assets will include a repurchase option within two years; A similar decision regarding local sites (with different deadlines) was made by other foreign manufacturers – Renault, Nissan and Mazda. It was previously reported that the transaction amount was 10 thousand rubles (at the current exchange rate, equivalent to approximately 147 thousand Korean won or 111 US dollars).
Earlier, the head of the Ministry of Industry and Trade of the Russian Federation noted that the future owner of the St. Petersburg plant is already studying the possibilities of soon resuming car production at this site together with certain “industrial partners”, which he did not disclose. He added that the restart of the assembly line will occur before the middle of this year.
Hyundai said last month that in Russia, owners of Hyudai and Kia cars will continue to be provided with service services, including after-sales service . It should be noted that the St. Petersburg plant of the Korean company was launched in 2010, its production capacity is designed to produce more than 200 thousand cars per year; The list of local assets also includes a motor plant and a second site, previously owned by the American concern GM.
Recent Comments