On February 7, the Public Investment Fund (PIF) announced “King Salman Automotive Cluster" as the official name of the cluster for automotive manufacturing activities, located within King Abdullah Economic City (KAEC).
It will play a key role in Saudi Arabia’s economic diversification, boosting the automotive sector

On February 3, multiple sources reported that the Saudi Minister of Industry and Mineral Resources met with the senior Indian ministers and heads of major Indian companies in New Delhi. He discussed about investment partnership between Saudi Arabia and India. 
Saudi Arabia is working towards localization of the autom

On January 7, the Ministry of Industry and Mineral Resources, Saudi Arabia, in a social media post, announced that Lucid Motors has joined the "Made in Saudi" program. This follows the launch of its first international manufacturing plant in Saudi Arabia in September, 2023.
Multiple sources reported that Lucid is the

On October 24, the Transport General Authority (TGA), Abdullah Hashim Industrial Gases & Equipment (AHG), Abdul Latif Jameel Motors and Toyota Motor Corporation (TMC) announced the launch of a seven-day trial for the Toyota Mirai, an advanced hydrogen-powered fuel cell electric vehicle (FCEV), as part of a taxi fleet

On September 7, multiple sources reported that the Minister of Industry and Mineral Resources, Saudi Arabia met with officials from Foton Motor. They discussed strategies to improve collaboration in vehicle manufacturing and boost the local production of buses, trucks, and light-duty vehicles within Saudi Arabia. He

On September 6, multiple sources reported that Saudi Industry and Mineral Resources met with several Chinese lithium and copper mining companies. He discussed the processing and production of lithium, which is used in electric vehicle batteries, and the processing and refining of copper. He also discussed Saudi Arabi

On August 31, multiple sources reported that the Minister of Industry and Mineral Resources, Saudi Arabia will start a tour of China and Singapore from September 1 to 8, 2024.
He will meet with senior government officials and leading global companies in the automotive, automation, and technology solution sectors, and

On August 15, the General Authority of Roads in Saudi Arabia introduced the Saudi Road Code, which sets clear standards for smart infrastructure to support self-driving vehicles.
The Road Code sets standards for installing smart communication devices on both sides of the road that interact with vehicles through an ad

On August 5, Lucid Group, Inc. announced that the Public Investment Fund (PIF) committed USD 1.5 billion to the group. Ayar Third Investment Company, an affiliate of PIF, will purchase USD 750 million of convertible preferred stock via private placement, and provide for a USD 750 million unsecured delayed draw term l

On March 18, Huawei Cloud announced that the Saudi Arabian government presented the digital development vision, preferential industry policies, and investment opportunities to attract Chinese and global enterprises at the Huawei Cloud Automotive Forum during LEAP Summit 2024 in Saudi Arabia. 
The country aims to stim

On February 6, the Minister of Industry and Mineral Resources, Saudi Arabia announced the establishment of the Automotive Manufacturers Association to provide solutions for developing and growing the sector while protecting the interests of manufacturers and scientists involved in it.
He also launched the National Au

On February 8, TASARU Mobility Investments announced its binding agreement to invest in Recogni. This investment aligns with Saudi Arabia's Vision2030.
Tasaru Mobility Investments is an investment company by the Public Investment Fund (PIF). It is focused on developing local supply chain capabilities for the automoti

On November 12, a joint venture called “Electric Vehicle Infrastructure Company (EVIQ)” was created by the Public Investment Fund (PIF) and Saudi Electricity Company (SEC).
Headquartered in Riyadh, it aims to enhance the Kingdom’s automotive ecosystem, through building a strong fast-charging network.  
It will build

On November 6, multiple sources reported that South Korea’s Heerim Architects & Planners had won the architectural design contract for Hyundai Motor Company’s upcoming plant in Saudi Arabia. The plant will be located in the King Abdullah Economic City. The plant is a joint venture between the Saudi sovereign wealth f

On October 24, multiple sources reported that KG Mobility Corp. signed a memorandum of understanding (MOU) with the Saudi National Automotive Manufacturing Co. (SNAM) to establish an automotive component supply chain in Saudi Arabia.
Under this MoU, KG Mobility's domestic component suppliers will enter the Saudi Arab

On October 20, BeyonCa signed an investment and strategic cooperation memorandum with Al Faisaliah Group Holding Company (AFG), an investment group headquartered in Saudi Arabia. Under the MOU, both companies will jointly explore opportunities for electric vehicle development, encompassing research and development, m

On October 22, the Public Investment Fund (PIF) and Hyundai Motor Company (Hyundai) signed a joint venture (JV) agreement to establish a highly automated vehicle manufacturing plant in Saudi Arabia.
PIF will hold a 70% stake with Hyundai holding the remaining 30%.
Hyundai will also act as a strategic technology partn

On October 16, CEER Motors announced a partnership with King Abdullah University of Science and Technology (KAUST) are partnering to research and develop and innovate for breakthroughs in smart mobility, including connectivity and autonomous driving technologies. 
This agreement will enable CEER technical experts and

On October 10, the Public Investment Fund (PIF) launched the National Automotive and Mobility Investment Company (Tasaru Mobility Investments), an investment company focused on developing local supply chain capabilities for the automotive and mobility industry in Saudi Arabia.  
Tasaru Mobility Investments will suppo

On October 8, The Public Investment Fund (PIF) and Saudi Electricity Company (SEC) launched the Electric Vehicle Infrastructure Company. PIF will own a 75% stake in the company, while SEC will hold the remaining 25% stake.
It aims to deliver best-in-class electric vehicle (EV) fast-charging infrastructure across Saud