Korean media reports that Hyundai and Kia are monitoring the political situation and are considering the possibility of buying back the plant in St. Petersburg. In January 2024, the company sold its Russian assets, but the deal included a two-year buyback option.

Hyundai’s interest in returning to the Russian market is not surprising. In 2021, a quarter of all imported cars in Russia were Korean-made. And in August 2024, the company submitted 17 trademark registration applications, which may indicate plans to resume operations. In the meantime, Solaris is still being assembled from the remaining car kits at the former Hyundai plant.

@boneco