Hyundai Motor Group has forged a strategic partnership with Red Sea Global, under the stewardship of the Public Investment Fund of Saudi Arabia, to spearhead the integration of eco-friendly transportation solutions within the kingdom’s ambitious luxury resort developments along its picturesque west coast. This collaboration, formalized through a memorandum of understanding signed in Riyadh, paves the way for the introduction of electric and hydrogen fuel cell vehicles for pilot testing within the serene landscapes of the Ummahat Islands and the opulent Amaala resort, marking a significant leap towards the widespread adoption of green vehicles throughout Saudi Arabia.
In a move that underscores Hyundai Motor Group’s commitment to pioneering future mobility, the company has also outlined plans to introduce cutting-edge transportation solutions including advanced air mobility and autonomous driving technologies to the Red Sea Project, envisioning a sustainable, tech-forward travel experience.
Lee Dong-kun, vice president at Hyundai Motor Group, expressed enthusiasm about the partnership, stating, “With this MOU, we will explore various cooperation opportunities that can make the best of both parties.” He further highlighted the group’s dedication to forging strategic alliances that bolster future growth and contribute to the global shift towards sustainable energy.
The collaboration also builds on Hyundai Motor Group’s existing ties with Saudi Arabia, following the announcement of a joint venture with the kingdom’s PIF to establish a complete knocked down (CKD) assembly plant in King Abdullah Economic City. This facility, boasting a production capacity of 50,000 vehicles annually, signifies a concrete step towards realizing Saudi Arabia’s Vision 2030, a transformative initiative aimed at diversifying the nation’s economy beyond its oil-rich foundations.
Red Sea Global, instrumental in driving Saudi Arabia’s transition towards a diversified economy, oversees several of the kingdom’s megaprojects including the futuristic city of Neom, the Qiddiya entertainment complex, Roshn housing development, and the historic sites development in Diriyah, alongside the Red Sea Project.
John Pagano, CEO of Red Sea Global, lauded Hyundai Motor Group’s leadership in sustainable luxury mobility, remarking, “Hyundai Motor Group is a world-class leader in sustainable, luxury mobility.” He added, “Through Hyundai Motor Group’s state-of-the-art technology and eco-friendly mobility solutions, we have moved a step closer to carbon neutrality while being able to exceed the customers’ expectations for style, comfort and environmental responsibility.” This alliance not only sets a new benchmark for eco-friendly luxury tourism but also aligns seamlessly with global environmental goals, promising a future where luxury and sustainability coexist harmoniously.
Main Image: (left) John Pagano, Group CEO of Red Sea Global and (right) Dongkun Lee, Head of Future Growth Strategy Sub-Division under Global Strategy Office (GSO) at Hyundai Motor Group
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