Hyundai will be the next automaker to cease its business in Russia, as per a European publication
A deal between Hyundai and a Kazakh company is currently underway
The negotiations are in the final stages and require green signal from local authorities
Hyundai suspended its operations in Russia in 2022
The automaker took the decision after the Russian invasion of Ukraine
It’s likely that Hyundai’s exit from Russia will be formalized in a few weeks
Apart from Hyundai, other carmakers too have discontinued operations in Russia
These include Toyota, Renault, Suzuki, Nissan, Honda, Stellantis and more
The exit of global automakers from Russia has made way for Chinese players