Hyundai Motor to Exit Russia, Selling Its Plants: Media Report

Hyundai Motor to Exit Russia, Selling Its Plants: Media Report
The Hyundai booth displays the company logo at the North American International Auto Show in Detroit on Jan. 16, 2018. Jonathan Ernst/Reuters
Reuters
Updated:

SEOUL—South Korea’s Hyundai Motor Co. plans to exit Russia and sell its manufacturing plants there to a Kazakh company, South Korean media reported on Wednesday.

South Korean TV network MBC reported that negotiations to sell Hyundai’s factories in Russia are in the final stage, adding that the automaker has been waiting for a final approval from the Russian government.