Hyundai May Leave Russian Market

There have been reports that Hyundai may soon sell its factories in Russia, but there has been no official confirmation of this. In 2021, Hyundai suspended production at its plant in St. Petersburg due to weak demand in the Russian market. However, it is unclear whether Hyundai plans to permanently exit the Russian market by selling its factories or if it intends to resume production in the future.

Hyundai has been present in the Russian market for over a decade, and its factories in Russia have the capacity to produce up to 200,000 vehicles per year. The company's decision to suspend production in Russia was reportedly influenced by the COVID-19 pandemic, as well as declining sales in the Russian market.

If Hyundai does decide to sell its factories in Russia, it would be a significant development for the Russian automotive industry. However, until there is an official announcement from the company, it is difficult to predict what its plans for the Russian market will be.