Hyundai Sells Its Russian Plant For Just $ 111 Million With A Two-Year Buyback Option.

Hyundai Motor will sell its Russian production plant for just $111, which actually cost 287 billion won ($219 million). This decision was taken due to the halted operations after the war between Russia and Ukraine.

However, Hyundai sells it with a two-year buyback option so that Hyundai can repurchase the plant within two years after the sale.

This plant is sold to Russia’s Art-Finance company for 10000 rubles, or $111 million. Both the companies will close the deal on December 27.

The Russian plant halted production in March last year because of the war between Russia and

 Ukraine. This Russian plant has a production capacity of 230000 vehicles. Many popular models are manufactured at the plant.

After the war, the sale of Hyundai cars decreased in Russia, as there were just 738 vehicles in the first quarter. 

Hyundai promises to provide after-sale sales services and customer care to all customers.

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