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On his recent visit to ��������, Hyundai Motor Group Executive Chair Euisun Chung met with Crown Prince Mohammed bin Salman in Riyadh. The group’s local growth strategy and future business opportunities were reviewed during the meeting. 

Chung’s discussions with the crown prince covered a wide range of topics including the automotive industry and smart cities. This marked the first one-on-one meeting between the two leaders, though they had previously met twice, including during the crown prince’s 2022 visit to Korea.

“Hyundai Motor Group deeply understands the meaning and importance of Saudi Vision 2030,” said Chung. “Based on our competitive business capabilities, we are participating in ��������’s giga-projects and look forward to expanding collaboration in future energy sectors including renewable energy, hydrogen, small modular reactor, and nuclear energy.”

Strategic partnership for Vision 2030

�������� is pursuing Vision 2030, a national development project aimed at diversifying its economy from energy-focused industries toward manufacturing and hydrogen energy. The Kingdom is hosting international events including the World Expo and FIFA World Cup, positioning itself as one of the world’s most prominent emerging economies.

As the Middle East’s largest automotive market, �������� is actively attracting global automakers, including Hyundai Motor, with the long-term goal of becoming an automotive hub serving not only the Middle East but also North Africa.

Executive Chair Chung expressed gratitude for the Saudi government’s continued interest and support, outlining Hyundai’s ongoing collaborative projects and future plans as a partner in realizing ��������’s vision for mobility and other sectors.

Regarding the new manufacturing facility in the Kingdom, Chung said: “Hyundai Motor is building a locally tailored factory with specialized equipment to meet ��������’s industrial demands and customer needs. We will also consider expanding production capacity based on future market conditions.”

New production hub 

Prior to meeting the crown prince, Chung visited Hyundai Motor Manufacturing Middle East on Oct. 26 at the King Salman Automotive Cluster to review construction progress. Together with José Muñoz, president and CEO of Hyundai Motor Company, Chung engaged in a business update session with Hyundai Motor and Kia local leaders and held in-depth discussions with employees about growth strategies.

“Establishing a production base in �������� represents Hyundai Motor’s new opportunity in the Middle East,” Chung told employees working in extreme heat. “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.”

Muñoz said: “Our new �������� production facility demonstrates Hyundai’s long-term commitment to the Middle East’s largest automotive market. This plant plays a strategic role in our global mid-term plan while supporting Vision 2030. We’re combining Hyundai’s manufacturing excellence with ��������’s talented workforce to deliver mobility solutions across automotive, smart cities, hydrogen energy, and future mobility.”

HMMME, the first Hyundai Motor production facility in the Middle East, is a cornerstone for establishing Hyundai as a leading brand in ��������. The joint venture is 30 percent owned by Hyundai Motor and 70 percent by ��������’s Public Investment Fund. Construction began in May 2025, with operations targeted to commence in the fourth quarter of 2026. The facility will have an annual production capacity of 50,000 units, manufacturing both electric vehicles and internal combustion engine vehicles.

The plant combines Hyundai Motor’s innovative manufacturing technology with ��������’s talented workforce and infrastructure, positioning it to play a crucial role in the growth and development of the Kingdom’s mobility ecosystem.

Hyundai Motor plans to operate HMMME as a high-quality vehicle production hub by implementing multi-model production facilities to address diverse customer needs, applying simple and robust design structures for easy maintenance, and incorporating cooling and dust-proof measures to handle high temperatures and sand.

Market growth and expansion

Hyundai Motor and Kia continue to grow in ��������, selling 149,604 units through September this year, an 8.5 percent increase year over year, with plans to reach approximately 210,000 units by year-end, up 5.9 percent from 2024.

Leveraging enhanced brand appeal and stable supply through the Saudi production base, Hyundai Motor aims to become the leading automotive company in �������� through strategies including Saudi-exclusive special editions, an expanded SUV lineup based on customer preferences, and the launch of diverse eco-friendly vehicles including EVs, extended-range electric vehicles, and HEVs.

Kia plans to develop the recently launched Tasman pick-up truck as its flagship model while expanding EV and HEV supply. The brand is also focusing on capturing the PBV market in connection with ��������’s smart city projects.

Expanding collaboration 

Hyundai Motor is expanding partnerships with key Saudi institutions and companies across mobility, smart cities, and other sectors.

In September 2024, Hyundai Motor signed an agreement with NEOM for “introducing eco-friendly future mobility,” successfully demonstrating the Universe FCEV bus last May on routes connecting NEOM’s central business district with the high-altitude Trojena region at 2,080 meters above sea level. The group plans to continue collaboration as NEOM’s key partner in future mobility.

Last month, Kia launched a PV5 pilot project with Red Sea Global, one of ��������’s giga-project developers, following up on Hyundai Motor’s March 2024 MoU with RSG. Kia will provide PV5 passenger models and technical training support, contributing to eco-friendly mobility adoption and ecosystem development while delivering customized mobility solutions optimized for RSG’s tourism industry.

Hyundai is also partnering with the MISK Foundation, a nonprofit organization established by the crown prince in 2011, to foster local youth talent and explore smart city collaboration opportunities.

Hospital Healthcare Holdings Italy, a company owned by GKSD Srl, a leading Italian group, has signed an agreement to acquire a controlling stake in SURGCA, a state-of-the-art day surgery and ambulatory care center in Riyadh. This strategic acquisition marks HHH and GKSD’s entry into the Saudi healthcare sector. The agreement will initiate a long-term investment program exceeding SR1 billion ($266.6 million), fully aligned with the objectives of Saudi Vision 2030 to enhance healthcare infrastructure and services.

SURGCA is renowned for its advanced surgical and outpatient care, offering high-quality, patient-centric services. Through this acquisition, GKSD will expand its footprint in the Kingdom by developing a network of specialized healthcare facilities focused on clinical excellence, innovative treatment protocols, and cutting-edge technology supporting longevity and health. The initiative underscores GKSD’s commitment to elevating healthcare standards, promoting longevity, and improving quality of life through advanced medical care. 

GKSD manages a diverse portfolio of operating companies in Italy, which generates added value for its stakeholders by leveraging on its unique know-how. GKSD also holds stakes in American Heart of Poland and Scanmed, making it one of the largest private healthcare groups in Poland. The group focuses on a number of sectors including healthcare, real estate, engineering, energy, environmental technologies and healthcare advisory services.

GKSD’s shareholders include Gruppo San Donato, Italy’s largest private healthcare group and the leading European healthcare group specializing in acute care, medical education and research. With 150+ medical sites and facilities, world-leading teaching and research hospitals having over 900 patents, a university (Vita Salute San Raffaele University with 22 masters’ programs and PhD level education) as well as medical research ranking top 10 globally, GSD is the pioneer of gene and cell therapy globally. It has led many firsts in bio innovation. The group treats over 6.4 million patients in a year and employs over 27,000 medical professionals.

“This acquisition represents a pivotal step in our mission to support ��������’s healthcare transformation. I am a strong believer of Saudi Vision 2030 and am delighted that we have taken our first step into the Kingdom. In line with Saudi Vision 2030, the aim is to increase life expectancy and boost a healthy and thriving society in the Kingdom of �������� and beyond,” said Kamel Ghribi, chairman of Gruppo GKSD, chairman of the board of American Heart of Poland and vice president of Gruppo San Donato. “By integrating international expertise with local talent, we aim to set new benchmarks in patient care, contributing to a healthier future for the Kingdom and healthier life through our longevity and regenerative medicine protocols supported with cutting-edge research, advanced diagnostics and AI-enabled technology. We remain committed to developing the skillset of Saudi professionals in the field of healthcare and introducing protocols that promote longevity and well-being.”

“We are proud to welcome GKSD Srl as a strategic partner in our journey to advance healthcare in the Kingdom of ��������,” said Chairman of the Board of SURGCA Dr. Hisham Abdullah Albabtain. “This milestone marks a significant chapter for SURGCA as we join forces with one of Europe’s leading healthcare groups to bring world-class expertise, cutting-edge innovation, and global standards of excellence to the Saudi healthcare ecosystem. With this partnership, we aim to scale our impact, accelerate access to advanced diagnostics, treatments, and contribute meaningfully to the goals of Vision 2030. We are especially excited about the opportunity to empower local talent and help shape the future of healthcare delivery in the region.”

The investment reinforces GKSD’s dedication to sustainable healthcare growth, leveraging research, early stage disease detection protocols, and technology to meet the evolving needs of patients in �������� and beyond.

The stake in SURGCA was acquired from Swellness 46, the company representing the existing shareholders. Swellness 46 was advised by BMG Financial Group, ��������, while Al-Tamimi and Company acted as legal advises for GKSD.