Hyundai Motor Declines Buyback Option on Russian Assembly Plant, Citing Geopolitical Risks

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Hyundai Motor Company elected not to exercise its contractual buyback option for its former manufacturing plant in Russia. The announcement this Monday underscores the automaker’s risk-averse strategy given ongoing geopolitical tensions stemming from the Ukraine conflict.

1. Hyundai Translead Partners with Hendrickson Fleet Solutions in New York and New Jersey

Hyundai Translead has appointed Hendrickson Fleet Solutions as its exclusive commercial vehicle dealer for New York and New Jersey, providing fleets in the region with access to the Hyundai XCIENT Fuel Cell Class 8 truck, the world’s first mass-produced hydrogen-powered heavy-duty truck. Hendrickson will operate three full-service locations offering sales, maintenance, parts, warranty support and hydrogen infrastructure services, expanding Hyundai Translead’s distribution footprint on the U.S. East Coast. Chance Parker, Vice President of EV Strategy at Hendrickson, highlighted the combined offering of XCIENT Fuel Cell trucks and Hendrickson’s integration expertise as a “game-changing commitment to decarbonize more trucks in the NYC metro area.” Hyundai Translead CEO Sean Kenney noted that this partnership accelerates the rollout of zero-emission logistics solutions, leveraging Hendrickson’s regional expertise to advance hydrogen-based commercial transportation across North America.

Sources

RPB