Hyundai has accomplished the acquisition of a Common Motors manufacturing facility close to St. Petersburg in Russia, Hyundai spokeswoman Yulia Tikhonravova instructed reporters on Tuesday.

The GM plant with a capability of as much as 100,000 automobiles per 12 months was in-built Shushary within the suburbs of St. Petersburg in 2008 however closed in 2015 as a part of GM’s resolution to cut back its worldwide operations.

The deal was closed in early November, Tikhonravova stated, including that it was too early to say when manufacturing would begin because of the pandemic.

“If we discuss in regards to the plant in Shushary — sure certainly, it’s our second plant, now we’re engaged on attainable eventualities to make use of this asset,” stated Alexey Kalitsev, head of Russia’s Hyundai unit.

Hyundai and its associate Kia have already got a manufacturing facility in Russia with a producing capability of greater than 200,000 automobiles per 12 months. The 2 automakers bought greater than 400,000 automobiles in Russia final 12 months.

The Affiliation of European Companies, which tracks gross sales of recent passenger automobiles and lightweight industrial automobiles in Russia, expects the nation’s automobile market to fall by 13.5 % to 1.522 million automobiles this 12 months.

Based on Kalitsev, the market will decline by about 10 % to 1.55-1.6 million automobiles in contrast with 2019, and Hyundai itself needs to promote 163,000 items.