After months and months of negotiations, Hyundai has perfected his exit from Russia. A choice that the Korean group had made after the invasion against Ukraine carried out by the country led by Vladimir Putin, but which until now it had not yet managed to materialise. However, the scenario has now changed, given that Hyundai itself has made it known that it has signed an agreement for the sale of its two Russian factories.
Transfer to Art-Finance
The Russian buyer of the plants in question is Art Financewho announced that he had finalized the purchase of the Hyundai factories in St. Petersburg on January 24 and had received in this regard approval both the Russian government and the Federal Anti-Monopoly Service. Recall that Hyundai suspended production in Russia in March 2022, and that in December last year it said it wanted to sell its Russian operations for 10,000 rubles, equivalent to $111.69, thus suffering a loss of 287 billion won , therefore 214.7 million dollars.
Two factories sold
Today Hyundai confirmed that it had signed an agreement for the sale of its Russian production plants, without naming Art-Finance directly but having previously cited it as the company with which it was in negotiations. The establishments in question, as confirmed by Art-Finance itself, there are two: one is located in the Kamenka industrial area, the other in the Shushary industrial area. Their combined annual capacity is approx 300,000 vehicles.
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