St. The Russian Hyundai plant in St. Petersburg has come under the control of a new buyer. In this respect reports TASS with reference to the press service of the company.
Art-Finance, the parent company of AGR LLC, announced the completion of the acquisition of 100% of the shares of Hyundai Motor Manufacturing Rus LLC. “The procedure for purchasing the assets of Hyundai Motor Manufacturing Rus LLC was completed on January 24, 2024, all the necessary data will be entered in the Unified State Register of Legal Entities in the very near future,” the message said.
The Hyundai plant has been in St. Petersburg since 2010. It operates in St. Petersburg. Its production capacity allowed it to produce 200 thousand cars per year. In March 2022, the plant suspended its operations due to difficulties in supplying components. 2,206 of the factory’s 2,537 employees were idle. Before these events, Kia Rio and Rio X-Line cars were produced at the plant, as well as Hyundai Creta and Solaris.
It was learned that Hyundai Motor made the decision in December 2023. to sell Russian company Art-Finance LLC in St. Share in the St. Petersburg factory.
At the same time, Hyundai Motor maintains its obligations regarding warranty and service maintenance of cars in Russia, reports the head of the Ministry of Industry and Trade of the Russian Federation, Denis Manturov.
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