Hyundai’s factories in Russia, which were acquired by a local company, will resume work in January, after almost two years of shutdown due to the war in Ukraine, the Russian business group announced this Tuesday.
“There will be no extension of the factory’s downtime,” a representative of the Russian company told the TASS news agency.
Hyundai stopped operating in Russia in March 2022, shortly after the start of the war in Ukraine, citing “a shortage of spare parts due to global logistical failures in the supply of automotive components.”
On December 19, Hyundai Motor announced the sale of its St. Petersburg factories, opened in 2010, to the Russian company Art-Finance.
Hyundai Motor, once the third-largest car seller in the Russian market, entered Russia in 2007 through a 100% owned subsidiary.
Source: TSF
