The Russian Hyundai plant resumed work after two years of inactivity

by alex

He suspended work in March 2022

The Hyundai automobile plant in St. Petersburg («Hyundai Motor Manufacturing Rus») came out of idle mode on Monday, January 9, as reported to the publication «Fontanka» in the company's press service.

Representative of «Hyundai Motor Manufacturing Rus» reported that the plant currently employs 800 people: «After staff optimization in February 2023, we have approximately one shift left. Today we are engaged in personnel training and equipment maintenance».

In mid-December, the interim board of directors of the Hyundai Motor concern approved the sale of its Russian plant in St. Petersburg. The new owner of the enterprise can be an independent company «Art Finance».

According to The Chosun Ilbo newspaper, the transaction amount will be approximately 140 thousand won, or about 10 thousand rubles at the current exchange rate, with the real market price of the site being 287.3 billion won or $219 million. Hyundai will sell the plant with a buyback option within the next two years.

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It is planned to launch car assembly at the former Hyundai plant in St. Petersburg by mid-2024.

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