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Hyundai and Saudi's PIF start car plant in Saudi Arabia, aiming for 50,000 vehicles yearly by 2026.
Hyundai and Saudi Arabia's Public Investment Fund broke ground on their joint venture, Hyundai Motor Manufacturing Middle East (HMMME), in Saudi Arabia.
The facility, with 70% ownership by PIF and 30% by Hyundai, will produce up to 50,000 internal combustion and electric vehicles annually, with the first vehicle expected in Q4 2026.
The project supports Saudi Arabia's Vision 2030 by creating jobs and boosting the local automotive industry.
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Hyundai y el PIF de Arabia Saudita comienzan una planta de automóviles en Arabia Saudita, con el objetivo de 50.000 vehículos anuales para 2026.