Fas Russia Allowed Hyundai To Buy GM Plant In St. Petersburg
The Federal Antimonopoly Service of the Russian Federation approved the request of Hyundai's Russian production "daughter" - Hyundai Motor Manufacturing Rus LLC (HMMR, Hyundai plant in Saint Petersburg)-to purchase the General Motors plant in Shushary.
HMMR requested permission to take ownership of 94.83% of the production facilities of General motors Auto LLC, the request was submitted to the FAS on July 24. At the time, a representative of the company said that negotiations were underway with GM about the deal, without naming its terms and amount.
General Motors curtailed work in Shushary in 2015, and the site has since been mothballed. In 2019, the FAS allowed the Belarusian automaker unison Auto to buy this plant, but nothing was reported about the results of its negotiations with GM. It was also reported about the interest in the plant from the German concern BMW and Uzbek "Uzavtoprom."
GM continues to sell luxury Cadillac cars and premium Chevrolet models on the Russian market and provides support to its customers.
The Hyundai plant in St. Petersburg has been operating since 2010 and produces Hyundai Solaris, Hyundai Creta, Kia Rio, and Kia Rio X-Line. The plant has a capacity of more than 200,000 cars per year.