Receive our newsletter – data, insights and analysis delivered to you
  1. News
December 23, 2020

Hyundai-Kia completes acquisition of GM Russia plant

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

By Sam Duke

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.

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.

Content from our partners
Collaboration: the key to designing better EV battery packs
Navigating the lithium battery value chain
Teamwork: Making the EV dream reality
Related Companies

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU