Hyundai has declared the sale of their factory in the territory of

The Korean company says they are negotiating with "Art-Finance", which will become the buyer of assets of the enterprise in the Russian Federation. The Korean carmaker Hyundai Motor approved a plan for the sale of assets in the Russian market, in particular on the issue of the future plant in St. Petersburg, whose sale was suspended in March 2022. The company press service reports.

Hyundai is currently in the course of negotiating with Art-Finance to clarify the details of the future agreement, Hyundai Motor representatives said. The press service noted that Hyundai will continue to provide after-sales service and other types of customer service in order to support Hyundai car owners in Russia. It should be noted that Art-Finance has already become a buyer of Volkswagen assets in the Russian market.

Hyundai Motor is the largest carmaker who holds a leading position in South Korea and is one of the largest in the world industry. The company specializes not only in the production of cars, but also expands its activities for the production of trains, military equipment, industrial equipment and financial services. The headquarters of the company is located in Seoul. Hyundai Motor is part of Hyundai Motor Group, created in 2000.

According to Forbes Global 2000 for 2022, Hyundai Motor ranks 147th among the largest public companies in the world. The Hyundai Motors plant in St. Petersburg was put into operation in 2010 and was initially able to produce 200,000 cars a year. Later, the company acquired a neighboring plant owned by General Motors, which made it possible to expand production capacity to 300 thousand units a year.