Hyundai abandoned the purchase of Russian assets ahead of schedule

The former Russian plant of the Hyundai Motor Company concern (from 2024 – “Avtozavod AGR”) will finally remain the property of the Russian automobile holding LLC AGR. An informed source told Gazeta.Ru about this, noting: at this site the current owner plans to set up even larger-scale production than now.

One of the largest car factories in Russia, Hyundai Motor Manufacturing Rus, until March 2022 assembled Kia Rio, Hyundai Solaris and Hyundai Creta. Its design capacity is 230 thousand cars.

At the end of 2023, the South Korean manufacturer decided to get rid of the assembly site. As a result, the Hyundai Motor Manufacturing Rus company was acquired by the Russian Art-Finance (now Avtozavod AGR).

The contract amount was a symbolic 140 thousand won (about 10 thousand rubles), but the parties prescribed the possibility of repurchase on January 31, 2026. But the Koreans refused to take advantage of the option.

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A year earlier, insiders predicted an amazing future for the plant: supposedly the new owner could collect additional Korean “state employees” in order to release them on the market under the Chinese brand – GAC or BAIC.

Sources assured that the company has 70 thousand assembly machine kits. However, to use them, you will have to purchase additional components through friendly countries.

But something different happened: Solaris, Cretas and Rio began to be made under the new Solaris brand. And now, according to experts, the AGR company is now actively looking for “partners from an eastern country.”