Hyundai to start exports of Russian-assembly cars to foreign markets - official

ST. PETERSBURG, March 25. /TASS/.The South Korean auto giant Hyundai plans to start exporting cars assembled in St. Petersburg to foreign markets by the end of this year, Petersburg Industrial Policy and Innovation Committee Chairman Maxim Meiksin said on Wednesday. Hyundai’s Russian-assembly cars will be exported outside the Commonwealth of Independent States (CIS) comprising former Soviet republics, except Baltic states, the official said. "This will be done this year for sure. I believe they will perhaps begin this summer. They are already requesting all necessary documents," Meiksin said, adding the South Koran auto giant had already received the origin certificate. Hyundai Motor Manufacturing Rus CEO Choi Dong Yel has said the company is looking for "new export markets and the talk is about exporting cars beyond the CIS." "We plan that the details of these projects will appear by July this year," he added. The Hyundai auto plant, which was opened in St. Petersburg in September 2010, reached its full annual production capacity of 200,000 cars in 2012. Investment in the auto plant’s construction and further development exceeded $600 million. Read more