Hyundai is planning to leave Russia completely if the local government approves a deal between the South Korean automaker and a Kazakh company. Nothing is official yet but Korean media reported earlier this month the negotiations between Hyundai and the Kazakh investor are now in the final stages. Before anything goes official, however, the deal needs to be approved by the Russian authorities.
Hyundai suspended its operations in the country last year, shortly after the Russian invasion of Ukraine started. About a year ago, the company said it was reviewing various options for its Russian business but nothing has been made official since then. In a new statement emailed to Reuters, Hyundai said that the process continues and no decision has been taken so far.
