Hyundai Motor Group Chairman Euisun Chung visited Saudi Arabia, the largest economy in the Middle East, as part of ongoing efforts to deepen regional cooperation and explore future business opportunities. During his visit, Chung met with Crown Prince Mohammed bin Salman, discussing Hyundai’s growth strategies in the country and potential collaborations in various sectors.
Saudi Arabia, currently spearheading major economic transformation through its Vision 2030 initiative, is actively diversifying its energy-centric industrial base into manufacturing and hydrogen energy sectors. The kingdom is also establishing its position as a key player in the automotive industry and beyond, hosting global events like Expo and the World Cup, and attracting international attention.
The country also holds the largest automobile market in the Middle East, with heavy investments to attract global automakers—including Hyundai—and ambitions of becoming an automotive hub covering the Middle East and North Africa. Hyundai is currently constructing a manufacturing plant in Saudi Arabia and expanding partnerships with local institutions and companies.
On the 27th (local time), Chung met with Crown Prince Mohammed bin Salman at the Ritz-Carlton Hotel in Riyadh, engaging in broad discussions on the automotive industry and smart cities. Although this was their third meeting—following previous encounters during the Crown Prince’s visit to Korea in 2022 and another meeting—they held their first exclusive one-on-one discussion now.
Crown Prince Mohammed bin Salman is known for his bold reform policies, which have garnered strong support from the Saudi youth demographic. He leads Vision 2030, a national development plan to diversify the energy-dependent economy into manufacturing and hydrogen energy.
Euisun Chung expressed his appreciation for Saudi Arabia’s sustained support for Hyundai’s initiatives and explained Hyundai’s ongoing projects and strategic plans. He also highlighted Hyundai’s investment in the Hyundai Motor Manufacturing Middle East (HMMME), currently under construction, which aims to meet local industrial demand and customer needs by establishing a customized, state-of-the-art facility. Chung mentioned the potential for future capacity expansion based on market conditions.
Chung also exchanged views on Saudi Arabia’s Vision 2030 and shared Hyundai’s participation in the mega project ‘Giga Project’, reflecting a mutual understanding of the strategic importance of the collaboration. Additionally, he emphasized Hyundai’s interest in expanding cooperation in future energy sectors such as renewable energy, hydrogen, small modular reactors (SMRs), and nuclear power.
Prior to the meeting, Chung visited HMMME at King Salman Automotive Cluster, inspecting the construction site along with Hyundai and Kia executives. He encouraged employees working under intense heat and expressed the importance of establishing the plant as a key hub to supply mobility solutions, noting that sustainability and readiness are critical in the challenging desert environment.
José Muñoz, President of Hyundai Motor Company, also attended the site visit, emphasizing that HMMME is symbolic of Hyundai’s long-term vision in Saudi Arabia and a crucial part of Hyundai’s global, long-term strategic plans, contributing significantly to Vision 2030.
HMMME is the Middle East’s first Hyundai manufacturing plant, with Hyundai holding a 30% stake and the Saudi Public Investment Fund holding 70%. The plant, scheduled to start operations in late 2026, will produce up to 50,000 vehicles annually, including electric and internal combustion models. It aims to harness Hyundai’s advanced manufacturing technologies combined with local talent and infrastructure to foster the growth of Saudi’s mobility ecosystem.
Hyundai plans to diversify the lineup to appeal to local preferences, including special editions and eco-friendly vehicles such as EVs, EREVs, and hybrids, while expanding its market share in Saudi Arabia. Kia is also strengthening its presence with flagship models like Tashman, alongside increasing EV and hybrid offerings. The company aims to leverage the country’s smart city initiatives to pioneer the PBV (Purpose Built Vehicle) market.
So far this year, Hyundai and Kia together sold over 149,600 units in Saudi Arabia—an 8.5% increase year-over-year—and project sales exceeding 210,000 units by year’s end.
Hyundai Motor Group is actively collaborating with key Saudi institutions on mobility and smart city projects. In September last year, Hyundai signed an MOU with NEOM to develop eco-friendly future mobility solutions and recently succeeded in hydrogen fuel cell vehicle tests within NEOM, supporting Saudi Arabia’s Vision 2030. Kia has also partnered with Red Sea Global (RSG) on a demonstration project for eco-friendly mobility, contributing to the development of luxury resorts and eco-tourism in the region.
The group also cooperates with Misk Foundation, founded by Crown Prince Mohammed bin Salman in 2011, to nurture local youth talent and explore opportunities in smart city initiatives, further strengthening Hyundai’s regional footprint.
