Astana Motors denied the purchase of a Hyundai plant in Russia

The Kazakh company “Astana Motors” does not plan to buy a Hyundai Motor plant in St. Petersburg (under the control of the legal entity “Hyundai Motor Manufacturing Rus). This was reported in the press service of the company, transmits TASS.

Astana Motors has no plans to enter a plant in the Russian Federation. We are developing auto production in Kazakhstan, we are faced with the task of deepening localization and increasing the number of models produced by the small-knot method,” the statement said.

In October 2022, the South Korean newspaper Tona Ilbo, citing a recent report analyzing “the situation and prospects for the future in Russia” wrotethat the company is considering selling the plant in St. Petersburg. In April, the MBC TV channel reported on Hyundai’s plans to sell the plant to a Kazakh company. According to a number of media reports, Astana Motors may be a contender for the purchase.

The Hyundai plant in St. Petersburg suspended its work in March 2022 due to the special operation of the Russian Federation in Ukraine and the subsequent difficulties with the delivery of components. The plant repeatedly extended downtime, and in December the company began to gradually reduce employees. The total strength of the HMMR team before the reductions was about 2,500 people.

How wrote at the end of December, Vedomosti, the plant began stamping parts, welding and painting bodies for Hyundai Solaris, which the company sends to its plant in Alma-Ata (Kazakhstan) for assembly of cars there.