Exec: Hyundai plans to launch engine plant in St Pete in 2021

MOSCOW, Mar 13 (PRIME) -- Hyundai plans to launch an engine plant producing up to 150,000 vehicles a year in St. Petersburg in 2021, Entek Lee, director of the plant, said at a forum on Tuesday.

Director for External Relations Viktor Vasilyev told reporters that Hyundai will invest in the plant more than its competitors. Volkswagen and Ford spent U.S. $250 million and $270 million respectively, the facilities were launched in 2015.

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