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Business Hyundai Motor Sells Manufacturing Facilities in Russia
Hyundai Motor Sells Manufacturing Facilities in Russia
SEOUL, December 19, 2023 – Hyundai Motor Company (Hyundai) today held a Board of Directors meeting, approving a plan to sell its entire stake in Hyundai Motor Manufacturing Rus (HMMR LLC) to Art-Finance LLC.
The operation of St. Petersburg-based HMMR has been suspended since March 2022.
Hyundai is currently making final arrangements with Art-Finance for details of the deal.
To support Hyundai vehicle owners in Russia, Hyundai will continue to provide after-sales services and other customer care businesses.
About Hyundai Motor Company
Established in 1967, Hyundai Motor Company is present in over 200 countries with more than 120,000 employees dedicated to tackling real-world mobility challenges around the globe. Based on the brand vision ‘Progress for Humanity,’ Hyundai Motor is accelerating its transformation into a Smart Mobility Solution Provider. The company invests in advanced technologies such as robotics and Advanced Air Mobility (AAM) to bring about revolutionary mobility solutions, while pursuing open innovation to introduce future mobility services. In pursuit of sustainable future for the world, Hyundai will continue its efforts to introduce zero emission vehicles equipped with industry-leading hydrogen fuel cell and EV technologies.
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