Hyundai Motor is considering selling its Russia plant - media report

South Korea"s Hyundai Motor is considering options for its suspended Russia operations that could include selling its manufacturing plant there, South Korean media reported on Tuesday.

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Many factories in Russia have suspended production and furloughed workers due to shortages of high-tech equipment because of sanctions and an exodus of Western manufacturers since Moscow sent armed forces into Ukraine on Feb. 24.

Hyundai Motor recently submitted to management a report analysing its future prospects in Russia due to the difficult operating environment, Dong-a Ilbo newspaper said, citing an unidentified auto industry source.

Hyundai Motor was not immediately available for comment when contacted by Reuters.

Hyundai Motor, which together with affiliate Kia Corp is among the world"s top 10 biggest automakers by sales, builds about 200,000 vehicles per year in Russia, about 4 per cent of its global production capacity.

"We estimate that Hyundai and Kia together could generate at least a 450 billion won ($315 million) loss this year due to the business environment in Russia," said Esther Yim, an analyst at Samsung Securities.

Hyundai Motor suspended operations at its Russian factory in March and a regulatory filing from the company showed it sold no cars in the country in August and September.