Sources previously reported plans to sell the site as early as this fall.
Hyundai's plant in Russia, located in St. Petersburg, will continue to be idled until November 30, 2023, the city's Employment Center reports, citing Hyundai Motor Manufacturing Rus. The plant previously produced the Hyundai Creta, Solaris and Kia Rio, but their assembly was suspended last spring due to difficulties with component supplies. It is reported that the plant is planned to be sold to a Russian investor, among the possible buyers in the media are named dealership holding Avilon.
The plant, operating since 2010, has a design capacity of 200 thousand cars per year. In 2022, the company incurred losses of almost 19 billion rubles, and other expenses amounted to 56 billion rubles, including asset impairment and losses from downtime.
In September 2023, Denis Manturov, head of the Ministry of Industry and Trade, confirmed plans to sell the plant to a Russian company. A possible buyer is the Avilon dealership holding company, which has previously acquired a Volkswagen plant in the Kaluga Region.