Hyundai Motor says unsure when Russian plant operations will resume

2 minute read

The logo of Hyundai Motors is seen at the company's headquarters in Seoul, South Korea, March 22, 2019. REUTERS/Kim Hong-Ji

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SEOUL, March 4 (Reuters) - South Korea's Hyundai Motor Co (005380.KS)said on Friday it has not decided when to resume operations at its assembly plant in St Petersburg, Russia, citing ongoing issues with components delivery.

"Hyundai Motor Company is deeply concerned by the situation in Ukraine. We can confirm operations of the Hyundai Motor Manufacturing Russia (HMMR) are suspended until further notice due to ongoing global logistics issues with components delivery," it said in a statement to Reuters.

"The safety of our employees and caring for our customers remains the utmost priority of Hyundai Motor. We sincerely hope the situation is resolved peacefully as soon as possible," it added.

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Operations at the St Petersburg plant have been suspended since March 1. read more

The South Korean automaker, which together with affiliate Kia Corp (000270.KS) is among the world's top 10 biggest automakers by sales, builds about 200,000 vehicles per year in Russia, about 4% of its global production capacity.

Global auto and truck makers, including U.S. automaker General Motors Co (GM.N) and Germany's Daimler Truck (DTGGe.DE), this week suspended some business in Russia following its invasion of Ukraine. read more

Earlier this week, Swedish automaker Volvo Cars (VOLCARb.ST) said it would suspend car shipments to the Russian market until further notice, becoming the first international automaker to do so as sanctions over the invasion continue to bite. read more

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Reporting by Heekyong Yang Editing by David Goodman and Kim Coghill

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