RIYADH — Hyundai Motor Group has announced the signing of a memorandum of understanding with Saudi Arabian developer Red Sea Global (RSG) to explore future mobility solutions in the Middle Eastern nation. This agreement, signed on March 24 local time, marks a new phase in Hyundai's expansion into innovative automotive technologies.
According to Yonhap News Agency, the partnership involves testing the company's electric vehicles in Saudi Arabia's resort and tourism sectors and investigating collaborative opportunities in next-generation mobility solutions. Specifically, Hyundai plans to trial its pure electric and hydrogen fuel-cell electric vehicles at the Ummahat Islands resort and the Amaala tourism complex along the west coast of Saudi Arabia, both of which are under development by RSG.
The collaboration is set to extend to advanced air mobility (AAM) solutions and autonomous vehicles, aiming to introduce these innovative technologies in the Ummahat resort and Amaala complex over the long term. AAM is expected to provide environmentally friendly air mobility solutions for both intracity and intercity transportation.
RSG, the Saudi firm involved in the partnership, is backed by the kingdom's sovereign wealth fund, the Public Investment Fund (PIF). This new agreement builds on Hyundai's existing relationship with the PIF, established last year when the two agreed to construct a vehicle assembly plant with a capacity of 50,000 units per year at the King Abdullah Economic City.