Hyundai bought General Motors plant in St. Petersburg

In early November, Hyundai closed the deal of the purchase of General Motors plant in St. Petersburg. This was announced by Yulia Tikhonravova, head of the public relations group of Hyundai Motor CIS, at the final press conference of the company. At the same time, the representative of Hyundai did not disclose financial details of the transaction and the company's plans for the site. As Yulia Tikhonravova noted, due to the difficult situation associated with the coronavirus pandemic, it is premature to talk about any specific dates for the start of production. Currently, Hyundai manufactures its bestsellers Creta and Solaris at its own plant in St. Petersburg, the rest of Hyundai models are produced by contract assembly at the Avtotor plant in Kaliningrad.

As a reminder, General Motors plant in St. Petersburg was opened in November of 2008. Investments in the construction of an enterprise with a capacity of 60 thousand vehicles per year were $ 300 million. In March of 2015, General Motors announced plans to change its business model in Russia, with the result that the St. Petersburg plant ceased the car production in mid-2015, after which it was mothballed.