Hyundai reviews Russian plant after reports of sales in Kazakhstan | The automotive industry

The South Korean automaker says it is considering ‘various options’ for the Saint Petersburg factory.

Hyundai Motor says it is considering “various options” for its suspended factory in Russia, following a report that the South Korean carmaker is considering selling the plant to a Kazakhstan company.

Hyundai, South Korea’s third-largest conglomerate, said on Friday it had not decided the future of its Saint Petersburg facility after a news report that talks to sell the plant were in the final stages.

The company said that they would make an announcement once the matter had been decided, or no later than a month.

South Korea’s Yonhap news agency reported Thursday that the local government in St. Petersburg was in talks to sell the factory to an auto-related company in Astana, Kazakhstan.

Hyundai Motor suspended operations at its Russian factory in March 2022, shortly after Russia invaded Ukraine, joining a number of brands that have halted business or left the country.

Hyundai produced about 200,000 vehicles in Russia each year before the invasion.

Hyundai and its sister Kia controlled more than a quarter of the pre-war Russian car market, second only to France’s Renault.

The company said in regulatory filings that it had not sold any cars in Russia in August and September.