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 held a groundbreaking ceremony in King Abdullah Economic City, Saudi Arabia.
- This event followed the formation of a joint venture between the Public Investment Fund and Hyundai Motor Company to boost Saudi automotive manufacturing.
- The new facility will manufacture both traditional fuel-powered and battery-operated cars, aiming to produce 50,000 units annually to serve the local market.
- Yazeed 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 solutions and technological progress.
- The facility will create thousands of jobs, enable skills development, and accelerate Saudi Arabia's automotive ecosystem growth under Vision 2030.
60 Articles
60 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…
A New Hotspot For Car Production Is Rising In An Unexpected Place
Hyundai has officially started construction on its first plant in the Middle East. Located in Saudi Arabia, the plant is expected to open by the end of next year. The facility will produce up to 50,000 electric and ICE-powered vehicles annually. Automakers are flocking to setup shop in a new location and it has nothing to do with Trump’s tariffs. in fact, quite the opposite, as Saudi Arabia has emerged as the automotive production capital of the…
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…
Hyundai Motor Manufacturing Middle East, a PIF–Hyundai joint venture, celebrates groundbreaking ceremony
Hyundai Motor Manufacturing Middle East (HMMME), the joint venture between the Public Investment Fund (PIF) and Hyundai Motor Company, marked a major milestone today with its groundbreaking ceremony. The event took place at the newly announced King Salman Automotive Cluster within King Abdullah Economic City (KAEC), highlighting a pivotal step forward in the development of Saudi Arabia’s automotive industry. PIF owns a 70% stake in HMMME, with H…
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