Hyundai Motor Will Exit Russia, Selling Its Plants

"It is true that there are ongoing discussions regarding the sale, but nothing has been decided," Hyundai Motor told the TV network. Last year, Hyundai Motor shut down its Russian operation. The automaker stated in March that it was considering "various options" for its Russian operation.

Hyundai Motor, together with affiliate Kia Corp is among the world’s top 10 biggest automakers by sales and builds about 200,000 vehicles per year in Russia, about 4 per cent of its global production capacity. Along with Renault, Hyundai and Kia were among top three selling brands in Russia before the war. Now as global players have pulled out, Chinese brands are replacing them in Russia’s war economy. Source: Reuters