US EditionPIF's Joint Venture with Hyundai Motor Company, Hyundai Motor Manufacturing Middle East, celebrates groundbreaking milestone
- On May 14, 2025, Hyundai Motor Manufacturing Middle East hosted a groundbreaking ceremony for a new joint-venture automotive plant in King Abdullah Economic City, Saudi Arabia.
- The plant results from a partnership between the Public Investment Fund and Hyundai Motor Company , aiming to develop the local automotive industry and workforce.
- The facility, Hyundai's inaugural manufacturing site in the Middle East, aims to produce 50,000 vehicles per year, including models powered by traditional engines as well as electric drivetrains.
- Yazeed A. Alhumied described the groundbreaking as an important achievement for PIF, while Hyundai’s Jaehoon Chang highlighted it as the start of a transformative phase focused on advancing mobility and innovation technologies.
- The plant is expected to create thousands of jobs, support knowledge transfer, and accelerate Saudi Arabia’s automotive ecosystem growth aligned with Saudi Vision 2030.
57 Articles
57 Articles
Hyundai Motor breaks ground on 1st Middle East plant in Saudi Arabia
Hyundai Motor broke ground on its first Middle East manufacturing base in Saudi Arabia, Wednesday (local time), marking a key milestone for the carmaker’s global expansion. According to the company, it held a groundbreaking ceremony for Hyundai Motor Manufacturing Middle East (HMMME) at the King Salman Automotive Cluster in Saudi Arabia. The ceremony was attended by over 200 dignitaries and officials from both countries, including Saudi Arabia’s…
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PIF's Joint Venture with Hyundai Motor Company, Hyundai Motor Manufacturing Middle East, celebrates groundbreaking milestone
Paving the way for a new industrial futureThe new facility is a joint venture between PIF and Hyundai Motor CompanyThe plant will manufacture internal combustion engine and electric vehicles, with an annual production target of 50,000 vehicles to supply Saudi…
Hyundai Breaks Ground on First Middle East Factory in Saudi Arabia - Korean Car Blog
Hyundai Motor Manufacturing Middle East (HMMME)—a joint venture between Saudi Arabia’s Public Investment Fund (PIF) and Hyundai Motor Company—officially broke ground at the newly launched King Salman Automotive Cluster within King Abdullah Economic City (KAEC). The groundbreaking ceremony marks a pivotal milestone in Saudi Arabia’s journey to becoming a global automotive manufacturing hub, reinforcing the goals of Saudi Vision […] The post Hyund…
PIF and Hyundai Break Ground on Landmark Manufacturing Plant in Saudi Arabia
KING ABDULLAH ECONOMIC CITY, Saudi Arabia, May 15, 2025 /PRNewswire/ -- Hyundai Motor Manufacturing Middle East (HMMME), a joint venture between PIF and Hyundai Motor Company, today hosted its groundbreaking ceremony in the recently announced King Salman Automotive Cluster within King Abdullah Economic City (KAEC). The ceremony is a significant milestone that marks another step in the development of the automotive industry in the Kingdom of Saud…
Hyundai breaks ground to build new electric vehicles factory in Saudi Arabia
Hyundai Motor Manufacturing Middle East (HMMME) – a joint venture between PIF, the sovereign wealth fund of Saudi Arabia with almost a trillion dollars in assets under management, and Hyundai Motor Company – hosted a groundbreaking ceremony in the recently announced King Salman Automotive Cluster within King Abdullah Economic City (KAEC). The ceremony was described […]
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