PIF, Hyundai to build $500m high-tech car manufacturing plant in Saudi Arabia
In a groundbreaking development aimed at transforming Saudi Arabia’s automotive landscape, the Public Investment Fund (PIF) and Hyundai Motor Company (Hyundai) have officially signed a joint venture agreement to establish […]
PIF announces new investment company to boost Saudi car industry
A new investment company tasked with developing local supply chain capabilities for the automotive and mobility industry in Saudi Arabia has been announced by the Kingdom’s Public Investment Fund. Tasaru […]
Saudi’s PIF & SEC launch Electric Vehicle Infrastructure Company
The Public Investment Fund (PIF) of Saudi Arabia and the Saudi Electricity Company (SEC) have launched the Electric Vehicle Infrastructure Company. PIF will own a 75 percent stake in the […]
Lucid opens Saudi Arabia’s first car production facility
Electric carmaker Lucid Group has inaugurated the first-ever car production facility in Saudi Arabia’s port city of Jeddah. The facility, which is the automaker’s second Advanced Manufacturing Plant (AMP-2) and first international […]
Saudi Arabia grants industrial licence to local EV brand Ceer
Saudi Arabia’s Ministry of Industry and Mineral Resources has granted an industrial license to Ceer, the first local electric vehicle (EV) brand. The EV manufacturing facility will cover an area […]
Individuals and showrooms can import cars into Saudi Arabia
Minister of Commerce Majed Al-Qasabi said that there is no truth in reports that Saudi Arabia is restricting the import of cars only to authorized agents. “Individuals and showrooms […]
South Korean auto giant Hyundai signs MoU to build assembly plant in Saudi Arabia
Saudi Arabia’s Ministry of Industry and Mineral Resources signed a memorandum of understanding (MoU) with South Korea’s Hyundai Motor Company to build an assembly plant based on CKD [Completely Knocked […]
Saudi: SASCO to pay $7.97mln dividends for Q3-22
The board of Saudi Automotive Services Company (SASCO) decided to distribute cash dividends worth SAR 30 million, representing 5% of the capital, for the third quarter (Q3) of 2022. […]
2025 to witness the 1st Saudi e-vehicle
The Saudi Industrial Development Fund (SIDF) CEO Ibrahim Almojel has confirmed that the year of 2025 will witness the appearance of the first Saudi electric vehicle, with production […]
Lucid promotes Sultan to VP and MD of Lucid Middle East
Lucid Group, setting new standards with the longest-range, fastest-charging electric car on the market with the award-winning Lucid Air, has promoted Faisal Sultan to Vice President and Managing Director of […]