South Korea’s Hyundai Motor Co. plans to exit Russia and sell its manufacturing plants there to a Kazakh company, South Korean media reported on Wednesday.
South Korean TV network MBC reported that negotiations to sell Hyundai’s factories in Russia are in the final stage, adding that the automaker has been waiting for a final approval from the Russian government.
“It is true that there are ongoing discussions regarding the sale, but nothing has been decided,” Hyundai Motor said, according to the TV network.
