Hyundai Motor to Form Car Manufacturing JV in Saudi Arabia with SWF Capital

Posted on 10/22/2023

South Korea-based Hyundai Motor Company inked a deal with Saudi Arabia’s Public Investment Fund (PIF) to construct a more than US$ 500 million car assembly plant, joining electric vehicle maker Lucid Motors Inc. in producing cars in Saudi Arabia. Lucid Motors is majority owned by PIF. Hyundai will likely develop the facility at King Abdullah…

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