RusAutoNews.- The global machinery and engineering tools manufacturer Hyundai WIA Corporation has officially launched an automobile engine factory in St Petersburg.
The head-quarters of the company is situated in South Korea. The enterprise has been constructed as the fifth engine factory of the corporation worldwide. Currently, the company has engine plants in South Korea, China and Mexico.
The mass production of engines will start at the beginning of October 2021. Hyundai WIA Rus plans to manufacture 240,000 engines during its first year and increase the volume to 330,000 units annually in due course, in a three-shift operation regime.
The factory will manufacture 1.6 litre internal-combustion Gamma engines in 2021. 2lt Nu engines will be added to the product range at the end of 2022. The engines will be used in Hyundai Solaris, Hyundai Creta, Kia Rio and Kia Rio X models.
The launch of the production of automobile engines has been implemented as the latest phase of the Special Investment Contract, signed amongst the Russian Ministry of Industry and Commerce, the government of St Petersburg and the Hyundai Motor Manufacturing Rus plant, for the purpose of localisation of production within the territory of the Russian Federation.
The factory is one of the largest of its kind in the industry in the North-Eastern region and St Petersburg. The company has been included as a participant of the registry of St Petersburg regional investment projects. The new engine plant will create at least 500 jobs. The investment amount in the project reached 15.8 billion rubles.
Upon fulfillment of full production capacity, Hyundai WIA will become the largest foreign brand engine manufacturer in Russia.
In addition, the company will provide development opportunities for Russian engine component manufacturers.
