Saudi Arabia is witnessing the establishment of the first factory for “Hyundai Motor” in the Middle East

Today, a new stage was launched in the march of the auto industry in Saudi Arabia, with the foundation stone for the first facility for the “Hyundai Middle East for the Motor Industry” company, the joint project between the Public Investment Fund and “Hyundai Motor”, within the King Salman Car Industry Complex in King Abdullah Economic City.

The new factory is expected to start production at the end of 2026, with a capacity of 50 thousand cars annually, including cars with traditional and electrical engines.

The Public Investment Fund has 70% of the company, while Hyundai has 30%.

Yazid Al -Hamid, deputy governor of the Fund, said that the project represents an important step to support the local auto sector, provide jobs and transfer technology to the Kingdom.

Hyundai officials also confirmed that the project is the beginning of a long partnership, and their goal is to build a modern factory, which contributes to training Saudi competencies, and supporting Vision 2030.

The factory will contribute to strengthening Saudi Arabia as an industrial center of cars, and will help develop the local supply chain.