“Hyundai Motor” in St. Petersburg began to optimize personnel due to the ongoing suspension of production processes, all obligations to the dismissed employees will be fulfilled,” the company’s message reads (quoted by TASS).
In particular, it is specified that those dismissed by agreement of the parties will be compensated. It is not specified what the percentage of reduced contracts is and when the contract termination process will begin.
Hyundai’s plant in Russia suspended work in March. He assembled Hyundai Solaris, Hyundai Creta, Kia Rio and Kia Rio X.
At the end of 2021, the Hyundai plant in Saint Petersburg produced 234,000 vehicles, 7% more than a year ago. Kia Rio remains the most popular model on the company’s assembly line with 92,000 sedans and cross-hatchbacks (+2%). Production of the Hyundai Creta crossover last year amounted to 71,000 vehicles (-5%), the Solaris sedan – 71,000 units (+32%).
Earlier, “RG” reported that Hyundai could soon decide on production capacity in St. Petersburg. One of the obvious scenarios is a sale, but at the same time it is extremely unprofitable.