Lates News

On May 15th, Hyundai Motor Company held a groundbreaking ceremony for its new factory in Saudi Arabia. This is the company's first production base in the Middle East. The factory is a joint venture established by Hyundai Motor Company and the Public Investment Fund (PIF) of Saudi Arabia, with ownership stakes of 30% and 70% respectively. The factory is scheduled to start production in the fourth quarter of 2026 with an annual capacity of 50,000 vehicles, including both electric and combustion engine models.