South Korean automaker Hyundai announced it will sell its St. Petersburg plant, which suspended operation in March 2022 amid an exodus of foreign companies from Russia.
“Hyundai Motor Company (Hyundai) today held a Board of Directors meeting, approving a plan to sell its entire stake in Hyundai Motor Manufacturing Rus (HMMR LLC) to Art-Finance LLC,” the company said in a press release.
"Hyundai is currently making final arrangements with Art-Finance for details of the deal," it added.
