5 Feb 2024 18:50

Serial auto production at former Hyundai plant in Russia to begin in Q2 2024 - Manturov

ST. PETERSBURG. Feb 5 (Interfax) - Serial production of vehicles at a plant formerly operated by South Korea's Hyundai Motor Company in St. Petersburg (Hyundai Motor Manufacturing Rus LLC, HMMR, currently owned by Russian auto holding AGR Automotive Group) may begin in Q2 2024, Deputy Prime Minister and Industry and Trade Minister Denis Manturov said in an interview with the Rossiya 24 TV channel.

"Production of serial cars will begin in Q2 of this year. We expect that this will be in the near future," Manturov said.

The minister said that with the restart of auto plants, auto production in 2024 "will see a substantial increase."

"I think we will continue to increase production volumes. It will definitely be no less than last year, based on the projects that are already being implemented today. We have found industrial partners for almost all production sites in the automotive industry. And this year is already the final year in terms of establishing a new range of products that will be produced at these sites. We will definitely add good growth this year," he said.

Manturov said in mid-January that the production of automotive equipment of all segments in 2023 increased by 16% to 720,000 units.