Hyundai Motor has sold a plant in Russia
Russian company Art Finance completed the agreement on the purchase of the Russian assets of the South Korean automaker Hyundai Motor. This was reported by the press service of AGR Automotive Group.
The company LLC became a part of the agreement Hande Motor Manufacturing Rus in St. Petersburg. Company Art Finance led by the former president of the dealer holding Avilon was registered in Moscow in February 2023. In May of the same year, the company bought the Russian assets of Volkswagen, in particular the enterprise in Kaluga.
About the purchase Art Finance of the Russian Hyundai plant became known at the end of 2023.
The deal was approved by Volkswagen’s board of directors. The Hyundai plant in St. Petersburg resumed work after two years of downtime on January 9 this year. The enterprise employs 800 people.