MOSCOW TIME: 23.05.2018 02:09:48

Companies + Economy + Local News

Koreans to invest $50 mln to Kaliningrad Region automotive cluster

Koreans to invest $50 mln to Kaliningrad Region automotive cluster

AVTOTOR and Hyundai Motor Company have signed a plan on launching a full-cycle facility to manufacture commercial HD78 trucks based on the company's capacities in the Kaliningrad Region



Koreans to invest $50 mln to Kaliningrad Region automotive cluster


AVTOTOR and Hyundai Motor Company have signed a plan on launching a full-cycle facility to manufacture commercial HD78 trucks based on the company's capacities in the Kaliningrad Region. The project contemplates the preparation of production lines on Avtotor's site to make Hyundai D78 trucks on a full-cycle basis. The creation of additional capacities, including welding and painting strings, would enable outputting not less than 16 thousand trucks annually.


Avtotor's history of cooperation with the South-Korean manufacturer dates back to 2011. It was then when the first truck of the brand rolled off the production line. Hyundai branded cars started to be massively output in a year. Today, the product portfolio includes models with a wide range of setup features having a good track record in the Russian market.


The share of Hyundai branded trucks in the Russian market is now 5 %. Virtually all of them are manufactured at Avtotor. The plant's management intends to invest $50 million in the new project jointly with the South Korean partners.


Full-cycle mass production is going to be launched in early 2018. The plans extending to the next year provide for the output of about 5 thousand trucks. They will be implemented not in Russia and CIS countries only but also in the countries of Middle East and Africa. The plant is ready to increase its output should it be necessary.



Share this:

Share this Share this Share this

NEWS


22.05.2018 Japan, Russia agree to arrange more flights to South Kuril Islands for former residents

Japan and Russia have made an agreement to arrange more charger flights to the South Kuril Islands for their former Japanese residents, Japans Mainichi newspaper reported.

22.05.2018 Russias Big Arctic Natural Reserve: fish, birds and ships

The Big Arctic Natural Reserve was founded in Russia 25 years ago. It united four million hectares of unique natural territories in the Russian Arctic. It is the biggest natural re...

22.05.2018 Russia Exports Aluminum to 120 Countries

According to the Russian Federal Customs Services official statistics, Russia exported 3.7m tons of aluminum to $6.4bn in 2017 a 16% increase on the previous year.

EVENTS


21.11.2018 00:25:00 UZPRODTECHEXPO-2018

November 21-23, 2018 Tashkent (Uzbekistan)

31.10.2018 00:05:00 UZENERGYEXPO-2018

October 31 November 2, 2018 Tashkent (Uzbekistan)

31.10.2018 UZSTROYEXPO-2018

October 31 November 2, 2018 Tashkent (Uzbekistan)

INTERVIEWS


18.04.2018 Pskov State University Increases Its International Student Body Thirty...

Higher education can be a profitable export business, provided the system is built correctly and qua...

FEA Education


03.05.2017 Anna Trubetskaya: "Business should be built on Russians"

About the models of business development in another country and professional secrets is told by a practicing expert on work in international markets Anna Trubetskaya

Our partners