Hyundai acquires General Motors plant in St. Petersburg
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Hyundai acquires General Motors plant in St. Petersburg
Hyundai Motor has completed the acquisition of the General Motors plant in St. Petersburg. This was announced by Yulia Tikhonravova, head of the PR-service of Hyundai Motor CIS. Let us remind you that the Federal Antimonopoly Service (FAS) approved the deal back in August this year.
According to Tikhonravova, the property was registered on November 2, registration took place on the 6th of the same month. The head of the PR department chose not to talk about the timing of the launch of new models, however, with the purchase of the GM plant, Hyundai's car assembly capacity in Russia will increase to 350 thousand cars a year, which will strengthen its position as the second player, after AvtoVAZ, in the Russian car market.
The new enterprise was acquired, obviously, for a reason. In 2021, the localization of Hyundai production in Russia will increase significantly - the company is building a huge engine plant in Sestroretsk. It will assemble 1.6-liter Gamma units for Solaris, Creta, and Rio. According to Droma's own information, 2.0-liter engines will also be assembled at this enterprise, but they will go into production later - in 2022-2023. The capacity of the engine plant will be 233 thousand units per year at first and by 2022-2023 will increase to 330 thousand.
Hyundai Motor operates a large full-cycle car plant in Russia, located 60 km from Shushar - in Sestroretsk. It produces the budget Solaris sedans and Creta crossovers, as well as the Kia Rio family (sedan and cross-hatchback). In 2019, Hyundai produced 245,000 cars at this enterprise, the plan for 2020 is 230,000. The production of more expensive models for the Russian Federation, as well as trucks, is traditionally carried out by the Kaliningrad auto assembler Avtotor, which at the end of October told about plans to produce cars under its own brand.
The enterprise was built in an open field in 2008, the investment in the project amounted to $ 300 million. In 2015, it produced the Chevrolet Cruze and Opel Astra, and also led the SKD assembly of the Chevrolet Trailblazer, Chevrolet Tahoe, Chevrolet Captiva, and several Cadillac models. The capacity of the enterprise allowed the production of 98 thousand cars per year. GM has been selling this plant since 2018.
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