The Hyundai Motor Company has reportedly paused the redevelopment plans for the former General Motors plant in St. Petersburg. Local outlets citing internal sources indicate that the project, which aimed to revive the site, has halted indefinitely as of the current term. News agency colleagues describe a situation where the spring phase of the investment plan was intended to kick off with the modernization of existing workshops, yet construction on new facilities and the planned expansion did not commence.
Hyundai acquired the shuttered GM manufacturing complex in Shushary in November 2020. The new facility is expected to operate under the name HMMR-2, with a multi-billion ruble investment slated to support its long term development. Plans circulated in 2023 anticipated production at the site of models such as the Hyundai Tucson and Palisade, alongside the Kia Sportage, marking a broader strategy to expand regional production capacity.
Meanwhile, Hyundai’s manufacturing site in Sestroretsk has faced suspension in operations since early March due to a shortage of key components. Historically, this plant produced models including the Hyundai Solaris and Creta, as well as the Kia Rio and Rio X, contributing to Hyundai and Kia product lines available in the regional market.
A former official in the national industry ministry and trade department had projected a significant slowdown in vehicle sales for 2022, with estimates suggesting a halving of volumes compared with earlier years. This context has influenced the pace and scale of multinational automakers’ investments and plant utilization in the region, shaping ongoing assessments of demand, supply chains, and strategic timing for upcoming production cycles.
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