Hyundai has filed a petition with the FAS to acquire the GM plant in Russia

Hyundai has filed a petition with the FAS to acquire the GM plant in Russia


Interfax.- The Russian manufacturing subsidiary of the OEM: Hyundai Motor Manufacturing Rus (HMMR) has filed a petition with the Federal Antimonopoly Service (FAS) to obtain the ownership of the General Motors factory in Shushary, where Americans halted car production in 2015.

As reported in the FAS decision centre, the petition of HMMR to acquire the ownership of 94.8% of the production assets of General Motors Auto was registered on 24 July.

The prospects of the acquisition of the production facilities of General Motors Auto by Belarusian car manufacturer Unison Auto have also been discussed in the market last year. The relevant petition filed by the Belarusian company was approved by FAS at the beginning of 2019. At the time, the antimonopoly service noted that the site in Shushary formed more than 20% of the main production facilities of General Motors Auto. However, up to now, no progress has been reported in the negotiations with the Belarusian side.

General Motors has discontinued production at its St Petersburg plant in 2015. GM continues to sell luxury Cadillac automobiles and the premium models of Chevrolet in the Russian market, providing support to its clients. The production site remains mothballed. BMW and Uzavtoprom of Uzbekistan have been named as other companies interested in the factory by the representatives of the regional government and sources from the market, alongside Unison.

St Petersburg Hyundai plant commenced operations in September 2010. The enterprise manufactures the models Hyundai Solaris, Creta, KIA Rio and KIA Rio X-Line. The capacity of the plant is more than 200,000 vehicles per year.