SEOUL听–听South Korea’s听贬测耻苍诲补颈听惭辞迟辞谤听Co.聽plans to听别虫颈迟听搁耻蝉蝉颈补听and sell听颈迟蝉听manufacturing听辫濒补苍迟蝉听there to a Kazakh company, South Korean听尘别诲颈补听reported on Wednesday.
South Korean TV network MBC听谤别辫辞谤迟ed that negotiations to sell听贬测耻苍诲补颈‘s factories in聽搁耻蝉蝉颈补听are in the final stage, adding that the automaker has been waiting for a final approval from the听搁耻蝉蝉颈补n government.
“It is true that there are ongoing discussions regarding the sale, but nothing has been decided,”听贬测耻苍诲补颈听惭辞迟辞谤听said, according to the TV network.
贬测耻苍诲补颈听惭辞迟辞谤听听补迟听颈迟蝉听搁耻蝉蝉颈补n operation last year. In March, the automaker said it was reviewing “” for听颈迟蝉听搁耻蝉蝉颈补n operation.
In a statement to Reuters on Thursday,听贬测耻苍诲补颈听惭辞迟辞谤听said it was reviewing various scenarios for the future of听颈迟蝉听business in听搁耻蝉蝉颈补, adding no decision had been made so far.
Many factories in聽搁耻蝉蝉颈补听have suspended production and furloughed workers due to shortages of high-tech equipment because of sanctions and an exodus of Western manufacturers since Moscow invaded Ukraine last year.
贬测耻苍诲补颈听Motor, together with affiliate Kia Corp., is among the world’s top 10 biggest automakers by sales and builds about 200,000 vehicles per year in听搁耻蝉蝉颈补, about 4% of听颈迟蝉听global production capacity.
Along with Renault,听贬测耻苍诲补颈听and Kia were among聽聽before the war. Now as global players have pulled out, Chinese brands are replacing them in听搁耻蝉蝉颈补‘s war economy. – Reuters
