Hyundai Motor Extends Suspension of Russian Factory Operations Until the End of November

Factory Likely to Be Sold to Russian Company

Hyundai Motor Company has extended the suspension period of its factory in Saint Petersburg, the second largest city in Russia, until the end of November.

[Image source=Yonhap News]

According to Russian TASS news agency on the 30th (local time), Hyundai has extended the factory suspension period until November 30, resulting in about half of the employees, 534 people, being on leave.

Hyundai halted operations at the automobile factory starting in March last year, shortly after Russia's invasion of Ukraine, citing difficulties in procuring parts. It is now reported that discussions are underway to sell the factory to a Russian company.

Denis Manturov, Russia's Minister of Industry and Trade, stated on the 25th of last month, "Hyundai is expected to be acquired by a Russian company," adding, "A conclusion will be reached soon."