출처: https://en.yna.co.kr/view/AEN20251028004400320?section=search

Hyundai Motor Group Executive Chair Euisun Chung has visited Saudi Arabia this week to meet Saudi Crown Prince Mohammed bin Salman, reviewing the company's local growth strategy and exploring future business opportunities, the group said Tuesday.

During their first bilateral meeting on Monday, Chung and the Saudi crown prince discussed cooperation in the automotive industry and smart city development, according to Hyundai Motor Group.

The two had previously met twice, including during the crown prince's visit to South Korea in 2022, along with other business leaders.

Hyundai Motor Group is currently building the Hyundai Motor Manufacturing Middle East (HMMME) plant as a joint venture with Saudi Arabia's Public Investment Fund. The facility is scheduled to begin production in the fourth quarter of 2026.

Chung said the company could expand HMMME's planned annual production capacity of 50,000 units in line with future growth in local demand.

"Hyundai Motor is building a locally tailored factory with specialized equipment to meet Saudi Arabia's industrial demands and customer needs," Chung said. "We will also consider expanding production capacity based on future market conditions."

In line with Saudi Arabia's Vision 2030 initiative to reduce reliance on oil revenues, Chung also expressed expectations for broader collaboration in future sectors, including renewable energy and hydrogen.

During the visit, Chung toured the construction site of HMMME at the King Salman Automotive Cluster in King Abdullah Economic City (KAEC), accompanied by Hyundai Motor Co. Chief Executive Officer (CEO) Jose Munoz.

"Establishing a production base in Saudi Arabia represents Hyundai Motor's new opportunity in the Middle East," Chung told employees. "We must thoroughly prepare in every aspect to deliver mobility that exceeds customer expectations on time, in an environment different from our previous bases -- characterized by high temperatures and desert conditions."

Hyundai Motor Group has been expanding its presence in Saudi Arabia, projecting sales of around 210,000 units in 2025, up 5.9 percent from a year earlier.

Last year, Hyundai Motor signed an agreement with NEOM to introduce eco-friendly mobility solutions, while its affiliate Kia Corp. launched a project for its purpose-built vehicle (PBV), the PV5, in the Middle Eastern nation last month.