Archive · 30 Dec 2025
Hyundai Unable to Repurchase Russian Factory
Hyundai, a big car company from South Korea, can't buy back its old factory in Russia.
They sold it in 2024 for a very small amount of money and had an option to buy it back within two years.
But because of the war in Ukraine and the problems it caused, Hyundai can't use this option.
The factory used to make a lot of cars, but now it's making cars under a different brand.
Other car companies also sold their factories in Russia and have similar options to buy them back later.
Hyundai is unable to repurchase its former manufacturing plant in Russia due to the ongoing war in Ukraine.
The buyback option for the plant, sold in 2024 for a symbolic amount, expires in January 2025.
Hyundai and Kia were once the largest foreign carmakers in Russia, selling over 400,000 cars in 2019.
The factory in St. Petersburg had a capacity to produce over 200,000 vehicles annually.
Other carmakers like Renault, Ford, Nissan, and Mercedes-Benz also have buyback options for their Russian assets.
- Who
- Hyundai and its affiliate Kia
- What
- Unable to repurchase their former manufacturing plant in Russia
- When
- Buyback option expires in January 2025
- Where
- St. Petersburg, Russia
- Why
- Due to the ongoing war in Ukraine and Western sanctions
- Company
- Hyundai
- Location
- St. Petersburg, Russia
- Buyback Option Expiry
- January 2025
- Sale Price
- 140,000 won ($97)
- Annual Production Capacity
- 200,000 vehicles
- Market Share in 2019
- 23% of new car sales
- Financial Impact
- 287-billion-won hit from the deal
