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Story summary
- Hyundai Motor Company cannot repurchase its former manufacturing plant in Russia due to the ongoing war in Ukraine.
- The buyback option, sold to AGR Automotive Group in 2024, expires next month.
- Hyundai's sale was influenced by sanctions and the St. Petersburg plant halted in March 2022, with Western sanctions disrupting supply chains and causing a significant financial loss; the company has not confirmed whether it will negotiate an extension for the buyback option as most foreign automakers have exited Russia.
