Hyundai Motor Group has accomplished the acquisition of Common Motors’ St. Petersburg manufacturing unit, in line with stories.
Reuters reported {that a} Hyundai spokesperson informed reporters that Hyundai has now accomplished the acquisition and subsequently now has two Russian manufacturing services.
The US carmaker accomplished building of the St Petersburg US$300m St. Petersburg plant in 2008 however halted operations in 2015 after it determined to withdraw from Russia together with quite a few different markets worldwide.
The Reuters report famous that the GM manufacturing unit has a capability of as much as 100,000 vehicles per yr, however closed in 2015 as a part of GM’s choice to rationalise its worldwide operations.
Hyundai already has a 240,000 items a yr car meeting plant in St Petersburg which makes the Accent based mostly Solaris passenger automobile, the Creta crossover and Kia gentle commercials with complete output exceeding 91,000 items within the first half of 2020.
