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Reuters
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The subsidiary of South Korean company “Hyundai Motor” in Russia said yesterday that it had acquired the “General Motors” plant in St. Petersburg, Russia.
The American company General Motors established this plant, which has a production capacity of 100,000 units per year, in St. Petersburg, the second largest city in Russia, in 2008, and it was closed following General’s decision. Motors to reduce the volume of its activities abroad.
A spokesperson for the subsidiary told a hypothetical press conference that the deal was reached in early November, but it is unclear so far whether it will start production at the plant due to the spread of the new Corona virus.
Hyundai began operating production facilities with a capacity of 230,000 units per year in St. Petersburg since 2011.
Source: “Yonhap”
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