Hyundai has begun studying plans to buy out the Russian plant

Hyundai Motor Group has begun reviewing its global strategy and has begun reviewing foreign assets. Among other things, he will consider a plan to buy back the Russian plant using an option that expires at the end of 2025, according to Korea Economic TV.

The publication notes that the Korean automaker has initiated a thorough study of its global operations in the face of pressure from duties on exports to the United States. For Hyundai, a return to the Russian market may provide an opportunity to offset the impact of U.S. tariffs.

According to him, Hyundai Motor Group is developing two scenarios that relate to the Russian plant — in case of a successful buyout and in case of failure.

"In case of successful buyout, Hyundai plans to convert its plant in St. Petersburg into a European export hub. On the contrary, if it is decided to abandon the share buyback, the company will most likely give priority to creating an alternative base in a neighboring country rather than building a new plant in Russia," writes Korea Economic TV.

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The Korean media reported back in February that Hyundai Motor Concern may consider returning to the Russian market and may decide on this before the end of 2025. This development is supported by the recent re-registration of Hyundai trademarks with Rospatent, the publication noted. After that, Hyundai Motor said that the company was not working on entering the Russian market, and so far there have been no steps in this direction.

On June 17, First Deputy Prime Minister Denis Manturov said that relations with Toyota and Hyundai in Russia had been completely interrupted since 2022, and there was no information about plans for their return to the country.

The former Hyundai concern plant in St. Petersburg, acquired by the Russian company Art Finance, was renamed the AGR Automobile Plant in early 2024. Since February of that year, the company has been producing Solaris brand cars, which are renamed Hyundai and Kia. The model range includes HC crossovers (Hyundai Creta), KRS sedan (Kia Rio), KRX cross hatchback (Kia Rio X) and HS sedan (Hyundai Solaris). By the end of 2024, the company has produced almost 22 thousand cars.

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