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Hyundai Motor to sell Russian plant, takes $219m hit

Hyundai Motor plans to sell its plant in Russia to Art-Finance for a nominal 7,000 roubles , following other automakers in selling their Russian assets with buyback options.
The sale will result in a 287 billion won loss for Hyundai Motor, as the plant's operations have been suspended since March 2022.
Volkswagen previously sold its shares in Russian assets to Art-Finance in May, supported by Avilon autodealer group, following a similar approach.

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Hyundai to take $219M hit on sale of Russian plant

SEOUL – South Korea’s Hyundai Motor plans to sell its plant in Russia for a nominal 7,000 rubles ($77.67), a company official said on Tuesday, making it the latest global automaker to sell Russian assets since the outbreak of the war in Ukraine. Hyundai Motor, in a regulatory filing, said it would take a 287

1 year ago·Manila, Philippines

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Volkskrant

Live war in Ukraine: Hyundai sells factory in Russia for 100 euro

The Russian Air Force has most likely deployed a Kinzjal-type ballistic missile for the first time since August, he reports...

1 year ago·Amsterdam, Netherlands

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VOA News

Hyundai Motor to Take $219 Million Hit on Sale of Russian Plant

Seoul — South Korea's Hyundai Motor plans to sell its plant in Russia for a nominal $77.67, a company official said on Tuesday, making it the latest global automaker to sell Russian assets since the outbreak of the war in Ukraine. Hyundai Motor, in a regulatory filing, said it would take a $219.19 million loss on selling the plant, in which operations have been suspended since March 2022. The company said it was seeking to transfer its assets in…

1 year ago·United States

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RTÉ

Hyundai Motor to sell Russian plant, takes $219m hit

South Korea's Hyundai Motor plans to sell its plant in Russia for a nominal 7,000 roubles ($77.67), a company official said today, making it the latest global automaker to sell Russian assets since the outbreak of the war in Ukraine.

1 year ago·Ireland

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Spiegel

Hyundai sells production in Russia by the end of December

The production lines at the main plant have been at a standstill since last year, and South Korean carmaker Hyundai is now separating from its production in Russia. The price is symbolic, the buyer is no stranger.

1 year ago·Germany

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