Hyundai Motor Sells Manufacturing Facilities in Russia

Itumeleng Garebatshabe
By Itumeleng Garebatshabe 252 Views 1 Min Read
1 Min Read

Hyundai Motor Company today held a Board of Directors meeting, approving a plan to sell its entire stake in Hyundai Motor Manufacturing Rus (HMMR LLC) to Art-Finance LLC.

The operation of St. Petersburg-based HMMR has been suspended since March 2022.

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Hyundai is currently making final arrangements with Art-Finance for details of the deal.

To support Hyundai vehicle owners in Russia, Hyundai will continue to provide after-sales services and other customer care businesses.

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Itumeleng is the Managing Editor of The Auto Magazine. He is a tech and car enthusiast