Hyundai Motor joins hands with PIF to set up automotive plant in Saudi Arabia
The total investment for the project is estimated to exceed $500 million; the plant groundbreaking is planned for 2024, and production is expected to start in 2026
South Korean carmaker Hyundai Motor Co. and Saudi Arabia’s Public Investment Fund (PIF) have signed a joint venture agreement to establish a highly automated vehicle manufacturing plant in Saudi Arabia, Hyundai announced October 22.
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