Hyundai Pledge Will Lure Further Foreign Spending In Russia

Despite its initial reservations about Russia's ability to recover from the global economic crisis, South Korea's Hyundai Motor is reported to have become the first foreign carmaker to commit to mass production of vehicles in the country. Local news sources have revealed the firm is looking to launch its full-fledged stamping equipment at its St Petersburg plant from September in a project BMI believes will encourage similar large-scale investments from Hyundai's foreign counterparts.

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