MBC learned about Hyundai's plans to sell a plant in Russia to a company from Kazakhstan

MBC did not specify which company Hyundai Motor had agreed with, but showed the logo of Astana Motors in the TV spot. The condition of the sale on Hyundai's part was the right to buy back at any time,

Hyundai Motor plans to sell its plant in St. Petersburg to a company from Kazakhstan, negotiations are at the final stage, according to the South Korean TV channel MBC.

The press service of the automaker confirmed to MBC the fact of negotiations, but did not provide additional information. According to the channel, Hyundai is awaiting approval of the deal by the Russian authorities. 

The condition of the sale from Hyundai was the right to repurchase at any time, notes MBC. With which company Hyundai Motor agreed, the story does not say, but in the video, the TV channel showed the logo of Astana Motors. Her website mentions two factories in Kazakhstan that produce Hyundai cars, as well as a network of dealers that sell, among other things, Hyundai cars.

The Hyundai plant in St. Petersburg began work in September 2010. The company produced Hyundai Solaris, Hyundai Creta, Kia Rio and Kia Rio X-Line models. The plant's capacity is more than 200,000 vehicles per year.

As Vedomosti noted, until 2022, Hyundai was one of the most massive manufacturers of foreign cars on the Russian market: in 2021, 234,000 cars rolled off the assembly line of the Korean concern's plant in St. Petersburg, of which 71,000 were Solaris and Creta models. The rest of the volume fell on the car Kia Rio. At the end of 2021, the machines produced at the plant began to be equipped with locally assembled engines.

However, after the start of a special military operation in Ukraine , the plant suspended work due to a lack of components and difficulties with logistics. After Nissan and Toyota announced their departure, the plant remained the only enterprise producing foreign cars in St. Petersburg. The assets of both Nissan and Renault have passed into state ownership.

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After the suspension of work, most of the employees of the Hyundai plant were sent to idle time. TASS reported with reference to the data of the city committee on labor and employment of the population as of November that 2.3 thousand out of 2.5 thousand employees of the enterprise were idle. At the end of December, Vedomosti wrote that the plant had resumed work on the production of bodies for Hyundai Solaris cars. However, they are not intended for the Russian market, but for the assembly site in Kazakhstan.