Lates News

Modern Automobil Company announced on Thursday that the company has broken ground on a production plant in Saudi Arabia. This is its first manufacturing base in the Middle East, marking an important milestone in the company's global expansion. Local time on Wednesday, Hyundai Motor Middle East Manufacturing Company (HMMME) held a groundbreaking ceremony in the Salman King Automotive Industry Park in the King Abdullah Economic City (KAEC) in Saudi Arabia. HMMME is a joint venture established by Hyundai Motor and the Saudi Public Investment Fund (PIF) with a 30-70 equity ratio. Production is set to begin in the fourth quarter of 2026 with an annual capacity of 50,000 vehicles, including electric cars and internal combustion engine models.