The South Korean corporation Hyundai WIA, part of the Hyundai Motor Group, has officially announced the opening of a plant for the production of automobile engines in St. Petersburg. This is the fifth such project for Hyundai WIA in the world, the other four are located in Korea, China and Mexico.
Automotive engines will be produced under a special investment contract concluded between the Ministry of Industry and Trade of the Russian Federation, the government of St. Petersburg and the Hyundai Motor Manufacturing Rus plant. The initiative is aimed at localizing production in Russia. This project is one of the largest in the industrial sector of the North-West region and St. Petersburg. According to the contract, the South Korean company undertakes to launch the production of engines and gearboxes, as well as to increase the volume of exports of its products. It is expected that the plant will provide more than 500 jobs, and the volume of investments will amount to almost 16 billion rubles.
The company intends to start mass production of engines in early October this year. During the first year, Hyundai WIA plans to produce 240 thousand engines, and then increase their number to 330 thousand per year. This should make the enterprise the largest in Russia among foreign manufacturers. Initially, the plant will produce 1.6-liter Gamma gasoline engines, and a year later – 2-liter Nu engines. They will be installed on Hyundai Solaris, Hyundai Creta, Kia Rio and Kia Rio X vehicles.
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