Hyundai Motor to sell Russia plant for token sum, taking $219 million hit
The automaker said in a statement that it is currently making final arrangements with Russia's Art-Finance to agree a deal.
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Hyundai Motor also said in a regulatory filing that it will take a 287 billion won. (Image credit: Reuters)
South Korean automaker Hyundai Motor plans to sell its plant in Russia for a token 7,000 roubles, a company official said on Tuesday.
Hyundai Motor also said in a regulatory filing that it will take a 287 billion won ($219.19 million) loss on selling the plant, which has suspended its operations since March 2022.
The automaker said in a statement that it is currently making final arrangements with Russia's Art-Finance to agree a deal.
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