Russia – Ukraine war updates: In the midst of the Ukraine crisis, Hyundai’s Russian factory remains shuttered.1 min read
10th of March, Seoul Hyundai Motor, South Korea’s largest carmaker, has cancelled plans to reopen a facility in Russia owing to ongoing supply difficulties caused by the Ukraine situation. Hyundai Motor had intended to reopen its St. Petersburg facility on Wednesday, but postponed the event owing to ongoing supply difficulties of automotive semiconductors. Air and maritime links to Russia have been halted as a result of sanctions placed on Moscow by the United States and the European Union for its invasion of Ukraine. At the Russian facility, Hyundai Motor produces around 230,000 completely completed automobiles each year. According to Yonhap news agency, automotive manufacturing in Russia are experiencing chip supply difficulties as air and sea routes to Russia have been stopped as a result of sanctions imposed by the United States and the European Union on Moscow for its invasion of Ukraine.