By Anadolu Agency
October 23, 2023 2:31 pmISTANBUL
The South Korean automotive giant Hyundai will open a factory in Saudi Arabia with a total investment exceeding $500 million.
According to a Monday press release by the firm, the factory will produce vehicles with both electric and internal-combustion engines.
A total of 70% of the factory will be owned by Saudi Arabia Public Investment Fund (PIF) and 30% by Hyundai.
The plant is expected to begin production in 2026; the planned production target is 50,000 units per year.
We use cookies on our website to give you a better experience, improve performance, and for analytics. For more information, please see our Cookie Policy By clicking “Accept” you agree to our use of cookies.
Read More