AGR reported on different development options for the former Hyundai plants in the Russian Federation

AGR has several alternative strategies for the further development of the former Hyundai plants from 2026, which were not bought out by the South Korean concern. This was reported by RIA Novosti on February 2.

According to the AGR Group's press service, these options ensure "the sustainability of the production site and the fulfillment of obligations to employees, customers and partners."

They noted that the group remains the sole owner of the enterprises and bears full responsibility for their further development. Since the acquisition of assets, the company has been engaged in the restoration and development of sites and an automotive cluster, realizing a significant amount of investments, closing obligations to existing creditors, as well as preserving and securing jobs, resuming industrial production.

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).

Waiting list: will foreign automakers return to Russia

Who is interested in the Russian market

Earlier in the day, it was reported that Hyundai Motor did not use the option to buy back its former manufacturing plant in Russia.

As Maxim Kadakov, editor-in-chief of Za Rulem magazine, noted, there were no prerequisites and conditions for Hyundai's return to Russia a year ago, when discussions of such a development appeared in the media.

All important news is on the Izvestia channel in the MAX messenger.