Hyundai Electric Vehicles and AAM to Operate at Saudi-Built Red Sea Resort

by Choi Daeyul

Published 25 Mar.2024 09:01(KST)

Hyundai Motor Group announced on the 24th (local time) that it signed a Memorandum of Understanding (MOU) with Saudi Arabia's Red Sea Global (RSG) to introduce eco-friendly future mobility.

RSG is the entity driving one of Saudi Arabia's giga projects, aiming to build luxury resorts and wellness tourism complexes along the western coast and Red Sea area of Saudi Arabia. To move away from an oil-centered economic structure, Saudi Arabia is undertaking large-scale projects under the name of giga projects according to its Saudi Vision 2030 strategy, including the futuristic new city NEOM, the entertainment complex Qiddiya, and the housing development ROSHN.

John Pagano, CEO of RSG (left), and Lee Dong-geon, Executive Director of Hyundai Motor Group, are posing for a commemorative photo after signing an MOU in Riyadh on the 24th (local time).
[Photo by Hyundai Motor Group]

Under this agreement, they plan to demonstrate eco-friendly mobility solutions locally and seek opportunities for collaboration on future mobility solutions. Electric vehicles and hydrogen electric vehicles will be tested at the Red Sea Umm Al Qamari Islands resort complex and the western coast tourism complex Amala, both developed by RSG. The agreement also includes plans to implement advanced air mobility (AAM), autonomous driving, and other future mobility solutions throughout the entire development complex in the mid to long term.

Earlier, Hyundai Motor Group signed an investment contract last year with the Saudi sovereign wealth fund to build a CKD (Completely Knocked Down) joint factory producing 50,000 vehicles annually, including electric vehicles, in King Abdullah Economic City. Dong-geon Lee, Executive Director of Hyundai Motor Group, said, "We will continue to cooperate in various ways to secure future growth engines and contribute to the global energy paradigm shift."