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Hyundai Filed A Petition With The FAS To Acquire The GM Plant In St. Petersburg

Hyundai Filed A Petition With The FAS To Acquire The GM Plant In St. Petersburg

The Russian production "daughter" of Hyundai-Hyundai Motor Manufacturing Rus LLC (HMMR, Hyundai plant in St. Petersburg)-filed a petition with the Federal Antimonopoly Service (FAS) to obtain ownership of the General Motors plant in Shushary, where the Americans curtailed car production in 2015.

As reported in the database of FAS decisions, HMMR's request to obtain ownership of 94.83% of the production facilities of General motors Auto LLC was registered on July 24.

Last year, the market discussed the prospects of purchasing the St. Petersburg production site of GM by the Belarusian automaker unison Auto. In early 2019, the FAS granted the relevant request of the Belarusian company. The Antimonopoly Service then noted that the site in Shushary is "more than 20% of the main production facilities of General motors Auto LLC."

However, so far, no progress has been reported in the negotiations with the Belarusian side.

General Motors closed production at its plant in St. Petersburg in 2015. GM continues to sell luxury Cadillac cars and premium Chevrolet models in the Russian market and provides support to its customers. The production site remains mothballed. Among those interested in the plant, representatives of local authorities and sources in the market, in addition to Unison, called the German concern BMW, and the Uzbek "Uzavtoprom."

Hyundai plant in St. Petersburg started working in September 2010. The company produces Hyundai Solaris, Hyundai Creta, Kia Rio, and Kia Rio X-Line models. The plant's capacity is more than 200 thousand cars per year.