Hyundai Begins Production at New Russian Plant

SEOUL, SOUTH KOREA – January 19, 2011: Hyundai Motor Company, the fifth-largest automaker by sales in Russia, today officially began production at its plant in Saint Petersburg, the company’s sixth and most modern overseas assembly plant.

“This is a historic moment, not only for Hyundai, but for Russia, as we are the first foreign automaker to operate a full-cycle manufacturing plant here,” said Gui-Il Chun, General Director of Hyundai Motor Manufacturing Russia (HMMR), a fully-owned subsidiary of Hyundai Motor Company. “We are now truly part of Russia and we will focus on supplying customers with the best products at the best time.”

The plant currently employs more than 1,300 workers, many of whom were trained at Hyundai factories in South Korea and the Czech Republic. Hyundai said in September that it aims to create 5,300 jobs by 2012, together with eleven parts suppliers.

HMMR is equipped with the latest assembly technology, providing a high level of automation in the production process. At several stations, for example, 85 percent of the welding is automated.

The plant’s annual capacity is 150,000 vehicles, while this year’s production target is 105,000 units.

In addition to the new Russian plant, Hyundai Motor Company has overseas manufacturing facilities in China, India, the United States, Turkey and the Czech Republic. HMMR is part of Hyundai’s strategy of building assembly sites in the fast-growing BRIC countries. Hyundai began construction of a third plant in China late last year and plans to break ground later this year for a plant in Brazil.