Another big carmaker intends to leave the Russian market

Hyundai suspended its activities in the Russian Federation in 2022. Since then, the brand has been negotiating with an investor from Kazakhstan. Hyundai will completely leave the Russian market if an agreement between the South Korean brand and Kazakhstan company is approved. This was told on Automotive News Europe. The negotiations between Hyundai and the investor from Kazakhstan are in the final stage. However, the agreement must yet be approved by the Russian authorities.

Hyundai suspended its activities in the Russian Federation in 2022. The reason was a full -scale military invasion of Russia into Ukraine. Last year, Hyundai said that the company considers several options for termination of its activity in the Russian Federation. The final decision has not been made yet. Prior to a full -scale war in Ukraine, Hyundai was in the top three of the most popular car brands in Russia. He was inferior to Renault and Kia sales.