South Korean automotive leader files several new patents in Russia
Hyundai exited the Russian market in 2022, attributing its departure to supply chain issues stemming from sanctions imposed due to the Ukraine conflict. According to TASS, the South Korean automotive giant has filed at least eight new trademarks...
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Hyundai exited the Russian market in 2022, attributing its departure to supply chain issues stemming from sanctions imposed due to the Ukraine conflict.
According to TASS, the South Korean automotive giant has filed at least eight new trademarks with Russia's intellectual property service, Rospatent, this month.
Hyundai halted its operations in Russia in March 2022, following the onset of sanctions against Moscow related to the Ukraine situation, citing difficulties in obtaining parts as the main reason for this decision.
The recent trademark registrations indicate that Hyundai may be preparing to re-enter the Russian market. These trademarks allow the company to manufacture and sell a broad range of vehicles in Russia, including passenger cars, buses, tractors, and heavy-duty trucks. The registration also includes essential automotive components like tires, shock absorbers, engines, and wheels.
The new trademarks reportedly encompass several models, such as Hyundai H-1, N Performance, N Line, Hyundai Axis, Ellecity, Xcient, Hyundai H100, and Hyundai Coupe. This assortment suggests potential initiatives across both commercial and passenger vehicle sectors, encompassing performance and luxury brand segments.
The rights to utilize Hyundai's trademarks in Russia will remain effective until 2034 as per the filings. A comparable action was taken by Kia, another South Korean automotive brand, which has submitted at least six trademark applications to Rospatent.
Hyundai and its affiliate Kia were once among the top three best-selling car brands in Russia, but both companies withdrew amidst a broader exodus of international corporations due to Western sanctions and pressures related to the Ukraine crisis.
Hyundai Motor Group divested all of its Russian assets, including its St. Petersburg plant, for a nominal sum of 10,000 rubles, while retaining a buyback option for two years. This arrangement requires the group to determine whether to resume production at the facility before the end of 2025.
Other prominent foreign brands are also positioning themselves for potential reentry and asset reacquisition in Russia. Recently, LG Electronics confirmed that it has resumed operations at its home appliance factory in Moscow, which produces washing machines and refrigerators. Additionally, Italian appliance manufacturer Ariston announced its return to the Russian market after exiting in 2022.
Max Fischer for TROIB News
According to TASS, the South Korean automotive giant has filed at least eight new trademarks with Russia's intellectual property service, Rospatent, this month.
Hyundai halted its operations in Russia in March 2022, following the onset of sanctions against Moscow related to the Ukraine situation, citing difficulties in obtaining parts as the main reason for this decision.
The recent trademark registrations indicate that Hyundai may be preparing to re-enter the Russian market. These trademarks allow the company to manufacture and sell a broad range of vehicles in Russia, including passenger cars, buses, tractors, and heavy-duty trucks. The registration also includes essential automotive components like tires, shock absorbers, engines, and wheels.
The new trademarks reportedly encompass several models, such as Hyundai H-1, N Performance, N Line, Hyundai Axis, Ellecity, Xcient, Hyundai H100, and Hyundai Coupe. This assortment suggests potential initiatives across both commercial and passenger vehicle sectors, encompassing performance and luxury brand segments.
The rights to utilize Hyundai's trademarks in Russia will remain effective until 2034 as per the filings. A comparable action was taken by Kia, another South Korean automotive brand, which has submitted at least six trademark applications to Rospatent.
Hyundai and its affiliate Kia were once among the top three best-selling car brands in Russia, but both companies withdrew amidst a broader exodus of international corporations due to Western sanctions and pressures related to the Ukraine crisis.
Hyundai Motor Group divested all of its Russian assets, including its St. Petersburg plant, for a nominal sum of 10,000 rubles, while retaining a buyback option for two years. This arrangement requires the group to determine whether to resume production at the facility before the end of 2025.
Other prominent foreign brands are also positioning themselves for potential reentry and asset reacquisition in Russia. Recently, LG Electronics confirmed that it has resumed operations at its home appliance factory in Moscow, which produces washing machines and refrigerators. Additionally, Italian appliance manufacturer Ariston announced its return to the Russian market after exiting in 2022.
Max Fischer for TROIB News
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