The brand said it will continue to provide warranty repairs and customer service for previously sold vehicles and will continue to provide these services in the future.
According to the News1 agency, the reason for the refusal to buy out was the active expansion of Chinese automakers in the Russian market.
Currently, this enterprise, located in the industrial zones of Kamenka and Shushary, assembles cars of the Jaecoo brand, owned by the Chinese corporation Chery.
The decision to sell the plant to Art-Finance was announced by Hyundai Motor at the end of 2023, and the transaction itself was completed at the beginning of 2024. At the same time, the South Korean automaker reserved the right to buy the asset back within two years. In Russia, Hyundai’s interests are represented by the legal entity Hyundai Motor CIS LLC.
Earlier it was reported that in Russia they sell a VAZ-2101 with lambo doors and a powerful engine.
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