Hyundai To Produce Three Car Models At Own Manufacturing Site In Russia - Ministry

Mohammad Ali (@ChaudhryMAli88) Published December 20, 2021 | 02:20 AM

MOSCOW (UrduPoint News / Sputnik - 20th December, 2021) The South Korean Hyundai Motor Company plans to manufacture the Tuscon, Palisade and Kia Sportage car models at a Russian factory, a relevant agreement has been approved, the Russian Ministry of Industry and Trade informs.

"An additional agreement with Hyundai Motor Manufacturing Rus provides for the inclusion of new car models in the product range - Hyundai Tuscon, Hyundai Palisade, Kia Sportage. The total investment will be increased from 16 billion rubles to 52.8 billion rubles ($712.7 million)," the ministry said.

According to Russian media reports, Hyundai plans to transfer production to a new site - the former General Motors plant in Shushary, near St. Petersburg.