Saudi Arabia is pursuing “Vision 2030,” a national development project aimed at diversifying its economy from energy-focused industries toward manufacturing and hydrogen energy. The kingdom is hosting international events including the World Expo and FIFA World Cup, positioning itself as one of the world’s most prominent emerging economies.
As the Middle East’s largest automotive market, Saudi Arabia is actively attracting global automakers, including Hyundai Motor Company, with the long-term goal of becoming an automotive hub serving not only the Middle East but also North Africa.
Executive Chair Chung expressed gratitude for the Saudi government’s continued interest and support, outlining Hyundai Motor Group’s ongoing collaborative projects and future plans as a partner in realizing Saudi Arabia’s vision for mobility and other sectors.
Regarding the new manufacturing facility, Chung stated, “Hyundai Motor is building a locally tailored factory with specialized equipment to meet Saudi Arabia’s industrial demands and customer needs. We will also consider expanding production capacity based on future market conditions.”