Modern cars did not exercise the option to repurchase the Russian car factory.

Hyundai Motor Company of South Korea said on Monday that it did not exercise its buyback option for its former production plant in Russia. Hyundai, along with its affiliate Kia, was once the largest foreign car manufacturer in Russia. The factory has been idle since March 2022 and the Western sanctions following the escalation of the Russia-Ukraine conflict disrupted supply chains and payments. In 2024, Hyundai, like many other car manufacturers, sold the plant to a Russian company at a low price and agreed to a buyback option within a fixed period, hoping to return to the factory someday. The buyback option expired in January this year. "Hyundai will continue to provide warranty and customer care services for vehicles sold in the past and will strive to continue these services in the future," the company said in a statement to the media.