South Korea’s Hyundai Motor Co. stated on Friday it has not determined when to renew operations at its meeting plant in St Petersburg, Russia, citing ongoing points with element supply.
“Hyundai Motor Firm is deeply involved by the scenario in Ukraine,” Hyundai stated in an announcement. “We are able to verify operations of the Hyundai Motor Manufacturing Russia are suspended till additional discover attributable to ongoing international logistics points with elements supply.
“The security of our staff and caring for our prospects stays the utmost precedence of Hyundai Motor. We sincerely hope the scenario is resolved peacefully as quickly as doable,” it added.
Operations on the St Petersburg plant have been suspended since March 1.
Along with affiliate Kia, Hyundai is among the many world’s prime 10 largest automakers by gross sales, constructing about 200,000 autos per 12 months in Russia, or roughly four p.c of its international manufacturing capability.
World auto and truck makers, together with U.S. automaker Normal Motors and Germany’s Daimler Truck this week suspended some enterprise in Russia following its Ukraine invasion.
Earlier this week, a number of automakers said they would suspend car shipments to Russia till additional discover, changing into the primary worldwide automaker to take action as sanctions over the invasion proceed to chunk.