TASS – Hyundai plans to start production of engines in Russia, Deputy Minister of Industry Alexander Morozov told reporters on Tuesday.
“Hyundai has no engine production facilities in Russia now and they are viewing options of launching their production. They have two options: the first one is to build an engine plant from scratch and the second one is to place a required volume at an engine plant, for example, in Kaluga (VW), Alabuga (Ford), or at Autovaz,” Morozov said.
Initial investments will be much smaller in the second variant because no buildings should be constructed and equipment acquisition will not be needed, the official said.
“An increase of existing equipment utilization will take place – investments into outfits alone dramatically lower the initial amount of investments,” the deputy minister added.
Hyundai is viewing different options, Morozov added.
Source: TASS | Author: TASS