Official: Hyundai may localize engine production in Russia

MOSCOW, Apr 4 (PRIME) -- South Korea’s Hyundai is considering localization of engine production in Russia, and can build its own plant or organize contracted production at facilities of another enterprise, Deputy Industry and Trade Minister Alexander Morozov told reporters Tuesday.

“Hyundai does not have engine production in Russia. They have two possibilities: the first is to build an engine plant from scratch and the second – to place the necessary volume at an engine production plant, for example, in Kaluga (Volkswagen), or in Tatarstan, in Alabuga (Ford), or at AvtoVAZ. In this case the volume of investment is significantly less – there is no need to construct buildings, buy basic equipment,” Morozov said.

“These are their ideas, they are considering various options. We are participating in talks, we are only trying to create conditions so there is a possibility to invest in various formats to deepen localization.”

A representative of Hyundai said the company is analyzing prospects of the Russian market.

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