The South Korean automaker Hyundai, apparently, will not be able to buy back its former production site in St. Petersburg. This was reported to Reuters by a knowledgeable source.
Hyundai suspended the plant in March 2022, and two years later sold it to AGR Automotive Group. The agreement provided for a buyback option until January 2026.
The situation does not allow us to buy back the shares.
Hyundai said that a final decision on the repurchase of the former enterprise has not yet been made. AGR Automotive Group did not respond to Reuters' request for comment.
According to the agency, Mazda Motor lost the right to return its former Russian assets in October 2025. Renault and Mercedes-Benz still have this opportunity. Their buyback options are valid until 2027 and 2029, respectively. But Toyota and Volkswagen sold the companies without the right to buy them back.
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