In a landmark step towards transforming Saudi Arabia’s automotive landscape, Hyundai Motor Manufacturing Middle East (HMMME), a joint venture between the Public Investment Fund (PIF) and Hyundai Motor Company, celebrated its official groundbreaking ceremony within the King Salman Automotive Cluster at King Abdullah Economic City (KAEC).
The event marks the start of Hyundai’s first automotive manufacturing facility in the Middle East and a critical milestone in Saudi Arabia’s ambition to become a leading player in the global automotive industry.
The plant, owned 70% by PIF and 30% by Hyundai, will manufacture both internal combustion engine (ICE) and electric vehicles (EVs), with a production capacity of 50,000 vehicles annually. The first vehicle is scheduled to roll off the production line by Q4 2026.
Distinguished guests at the ceremony included H.E. Bandar Alkhorayef, Saudi Minister of Industry and Mineral Resources; Yazeed A. Alhumied, Deputy Governor and Head of MENA Investments at PIF; Jaehoon Chang, Vice Chair of Hyundai Motor Group; Byung Jun Moon, Acting Korean Ambassador to Saudi Arabia; Ahmed Ali Al Subaey, Chairman of HMMME’s Board of Directors; Wongyun Park, CEO of HMMME; and Hanwoo Lee, Executive Vice President and CEO of Hyundai Engineering & Construction.
Speaking at the event, Yazeed A. Alhumied highlighted the venture’s strategic importance:
“This groundbreaking is a significant milestone for PIF as it furthers our mission to build local capabilities, attract cutting-edge technology, and create high-quality jobs within Saudi Arabia’s growing automotive and mobility sector.”
Jaehoon Chang, Vice Chair of Hyundai Motor Group, emphasised the venture’s alignment with Saudi Vision 2030:
“Through our joint venture with PIF, we are proud to contribute to the Kingdom’s long-term development by bringing advanced manufacturing capabilities and nurturing regional talent.”
Wongyun Park, CEO of HMMME, added:
“HMMME is more than a manufacturing facility—it’s a catalyst for change. By investing in local skills and production, we are paving the way for a new era of industrial growth and innovation in Saudi Arabia.”
The HMMME plant is designed to be a platform for innovation, sustainability, and industrial excellence. Alongside the groundbreaking, the presence of Boston Dynamics’ robot dog Spot® underscored the technological ambition behind the facility, reflecting Hyundai’s commitment to smart manufacturing and future mobility solutions.
This project forms part of PIF’s broader efforts to establish Saudi Arabia as a global automotive manufacturing hub. It joins a growing portfolio of automotive sector initiatives aimed at boosting local production, infrastructure development, and supply chain integration.
As Saudi Arabia pushes forward with its Vision 2030 goals, the Hyundai-PIF collaboration represents a crucial step toward a diversified, high-tech economy anchored in industrial innovation and international partnership.Source Hyundai Motor
