Hyundai Motor Group has completed the acquisition of General Motors‘ St. Petersburg factory, according to reports.

Reuters reported that a Hyundai spokesperson told reporters that Hyundai has now completed the purchase and therefore now has two Russian manufacturing facilities.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The US carmaker completed construction of the St Petersburg US$300m St. Petersburg plant in 2008 but halted operations in 2015 after it decided to withdraw from Russia along with numerous other markets worldwide.

The Reuters report noted that the GM factory has a capacity of up to 100,000 cars per year, but closed in 2015 as part of GM’s decision to rationalise its international operations.

Hyundai already has a 240,000 units a year vehicle assembly plant in St Petersburg which makes the Accent based Solaris passenger car, the Creta crossover and Kia light commercials with total output exceeding 91,000 units in the first half of 2020.