![Saudi's PIF and Hyundai Forge Strategic Joint Venture to Produce 50,000 Electric and ICE Vehicles Annually](/content/images/size/w720/2023/10/PR_413_930x465.png)
Saudi's PIF and Hyundai Forge Strategic Joint Venture to Produce 50,000 Electric and ICE Vehicles Annually
PIF and Hyundai establish a strategic joint venture to build an advanced auto manufacturing plant in Saudi Arabia. With PIF holding a 70% stake, the project plans to produce 50,000 ICE and EVs annually, fostering job creation and knowledge transfer, and advancing the Kingdom's automotive industry.