Hyundai is to build a new factory near St Petersburg in Russia. The factory will be capable of producing 100,000 cars per year, and will cost the company £199m to build.It's undecided what models will be produced at the new factory, but it is likely that all the vehicles produced there will be sold in Russia. Russia is one of the fastest growing car markets in the world, and though Hyundai and its sister company, Kia, already own as much as ten per cent of the market, it's eager to cash in even more on the growing demand.This will be the eighth Hyundai factory, excluding Kia's Slovakian plant, in use across the globe.
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