Hyundai Motor says unsure when Russian plant operations will resume

The brand of Hyundai Motors is seen on the firm’s headquarters in Seoul, South Korea, March 22, 2019. REUTERS/Kim Hong-Ji

SEOUL, March 4 (Reuters) – South Korea’s Hyundai Motor Co (005380.KS)stated on Friday it has not determined when to renew operations at its meeting plant in St Petersburg, Russia, citing ongoing points with parts supply.

“Hyundai Motor Firm is deeply involved by the scenario in Ukraine. We are able to affirm operations of the Hyundai Motor Manufacturing Russia (HMMR) are suspended till additional discover because of ongoing international logistics points with parts supply,” it stated in a press release to Reuters.

“The protection of our workers and caring for our clients stays the utmost precedence of Hyundai Motor. We sincerely hope the scenario is resolved peacefully as quickly as attainable,” it added.

Operations on the St Petersburg plant have been suspended since March 1. learn extra

The South Korean automaker, which along with affiliate Kia Corp (000270.KS) is among the many world’s high 10 greatest automakers by gross sales, builds about 200,000 automobiles per yr in Russia, about 4% of its international manufacturing capability.

International auto and truck makers, together with U.S. automaker Common Motors Co (GM.N) and Germany’s Daimler Truck (DTGGe.DE), this week suspended some enterprise in Russia following its invasion of Ukraine. learn extra

Earlier this week, Swedish automaker Volvo Vehicles (VOLCARb.ST) stated it will droop automobile shipments to the Russian market till additional discover, changing into the primary worldwide automaker to take action as sanctions over the invasion proceed to chunk. learn extra

Reporting by Heekyong Yang
Enhancing by David Goodman and Kim Coghill

: The Thomson Reuters Trust Principles.