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Hyundai Abandons Russia Plant Amid Ukraine War Fallout

2/2/2026

26 3 Full Breakdown

Summary

Story summary

Hyundai Motor Company announced on February 2, 2026 that it will not exercise the buyback of the Russia plant.
The ongoing war in Ukraine and subsequent Western sanctions halted local production.
This allowed Chinese brands to gain market share.
In 2024 Hyundai sold the plant for 140,000 won ($97) with the repurchase option expiring in January.
Hyundai continues to provide warranty repairs and customer care for previously sold vehicles.

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Story summary

Hyundai Motor Company announced on February 2, 2026 that it will not exercise the buyback of the Russia plant.
The ongoing war in Ukraine and subsequent Western sanctions halted local production.
This allowed Chinese brands to gain market share.
In 2024 Hyundai sold the plant for 140,000 won ($97) with the repurchase option expiring in January.
Hyundai continues to provide warranty repairs and customer care for previously sold vehicles.