Some retained the right of redemption
According to the head of the Ministry of Industry and Trade and Deputy Prime Minister Denis Manturov, Russia is not very interested in the buyback of automobile factories by departed companies. He also doubted that the return of Russian sites was advisable for the foreign companies themselves.
«I strongly doubt it from the point of view of its feasibility for the auto industry: we ourselves would not really like this in the near future», — he said on the sidelines of the exhibition – forum «Russia», commenting on the topic of buyback by foreigners of their assets in the Russian Federation.
At the same time, the Deputy Prime Minister said that, in general, foreign firms did not leave Russia out of fear. They made such decisions against the backdrop of pressure from regulators in their countries.
It is worth noting that recently the St. Petersburg site of «Hyundai Motor Manufacturing Rus» was renamed «Avtozavod AGR». It assembles Korean cars from the remaining kits. Hyundai retained the right to buy back, as did Mazda, Nissan and Mercedes-Benz. But Volkswagen, Toyota and Volvo do not have such a right.