Hyundai Finally Gives Up Plant in St. Petersburg

The production of Solaris cars will most likely be completely discontinued.

Apr 18, 2026

The production of Solaris cars is approaching a complete halt.
Source:
Planeta Avto

The South Korean automotive giant Hyundai has not exercised its right to buy back its assembly plant in St. Petersburg. As reported by the TASS news agency citing the company«s press service, this decision means a final refusal to return to the plant in Kamenka, which was sold to the Russian company Art-Finans (AGR Holding) in early 2024. Hyundai had retained the option to reclaim the facility within two years, but now the plant is set to be repurposed for the production of cars of another brand — most likely a Chinese one.

The Hyundai plant in St. Petersburg was considered one of the most modern and productive in Russia.
Source:
press service of AGR Holding

After the deal, the new owner managed to resume operations using the remaining 70 thousand vehicle kits. The assembly line produced the previous models — Solaris, Creta, Kia Rio, and Rio X, with Solaris being transformed into a standalone brand. However, the stock of components has run out: for example, the production of the Solaris HS sedan stopped about a year ago. Continuing production was only possible under the condition of either Hyundai buying back the plant or the Korean side agreeing to supply components, but neither happened.

In 2025, about 35 thousand Solaris cars were sold, a relatively good result despite reduced demand.
Source:
Artem Krasnov

AGR Holding has been searching for new partners for the plant for several months. A trial batch of Jaecoo crossovers has already been assembled at its facilities, and among the potential candidates is the Chinese brand GAC.

The plant, launched in 2010, was one of the most automated and largest in Russia. At peak capacity, it produced over 200 thousand cars per year, but by 2025 the volume had dropped to 35 thousand. This enterprise remained the only one in the country where assembly of the departed brand«s models continued, making it a valuable asset for a potential return of Hyundai without major investments. According to Korean sources, the company is still exploring the possibility of resuming operations in Russia, but this is hindered by the situation around Ukraine. Losing the plant makes a return even less likely, as direct car imports are complicated by high recycling fees.

The main project of AGR Holding is the production of Tenet cars (the Chery Tiggo family) at the former Volkswagen plant in Kaluga. The holding also owns another Hyundai plant in St. Petersburg, in Shushary, which previously belonged to GM. At this site, they plan to set up production of Chery«s sub-brands — Omoda and Jaecoo.