Hyundai to Build Plant in Saudi Arabia

Hyundai representatives and officials from the Kingdom held a groundbreaking ceremony for the Korean company’s first plant in the Middle East. The Hyundai Motor Saudi Arabia facility will be located in the King Salman International Complex for the Automotive Industry. The plant is being built as part of a joint venture with Saudi Arabia’s Public Investment Fund (PIF). To implement the project, a joint manufacturing company called HMME was established, with Hyundai Motor holding a 30% stake and Saudi Arabia’s sovereign wealth fund owning 70%. The future plant will have an annual production capacity of 50,000 vehicles. Its launch is scheduled for the fourth quarter of 2026. According to earlier statements by the leading Korean automaker, Hyundai’s share of electric vehicle sales in the Middle East is expected to exceed 15% by 2032.