Korean media: Hyundai will return to Russia and squeeze the “Chinese”

The Korea Herald portal writes that the corporation is ready to take the ability to return the plant near St. Petersburg, as this step will allow you to successfully compete with auto manufacturers from China. Journalists refer to analysts of the Korean Institute of Car Technology (Katech): researchers noticed that the “Chinese” are in no hurry with localization in Russia.

The Katech report says that the Chinese auto industry must move on to local production in Russia in order to comply with the changed policy (increased utilsbor) and remain competitive. South Korean analysts also drew attention to the fact that more than 55% of the Avtostat surveyed by motorists said that they would not buy a Chinese car at all or buy only in the absence of alternatives.

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In such conditions, Hyundai can take the opportunity to return and redeem the plant near St. Petersburg from the AGR, according to South Korea. The option is valid only until the end of 2025. The indirect confirmation of the activity of the Hyundai concern is numerous applications for the registration of trademarks and leakage of the sales plan. A professor of automotive industry at the University of Dalim Kim Pil-Su said that auto giant needs to diversify the regions of business after Trump’s duties.

However, rumors about the return of Hyundai in Russia appeared immediately after the election of Donald Trump and the warming of relations between Moscow and Washington. However, the press service of the Korean automaker first refuted this information, and a month ago they stopped coming.

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