Hyundai Motor Company is partnering with the Saudi Arabian Public Investment Fund (PIF) to establish its first production base in the Middle East, aiming to become the leading brand in Saudi Arabia. The joint production corporation, Hyundai Motor Manufacturing Middle East & Africa (HMMME), will be located at the King Salman Automotive Industry Complex, with Hyundai holding a 30% stake and the Saudi PIF holding 70%. The factory, which will start operations in the fourth quarter of next year, will have the capacity to produce 50,000 electric and internal combustion engine vehicles annually.
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Auto-posted at: 2025-05-15 21:03:30