Red Sea Global (RSG) and Hyundai Motor Group have signed an MoU to introduce eco-friendly vehicles to the luxury Red Sea Global resorts.
The partnership aims to introduce Hyundai’s advanced technology, electric battery, and hydrogen fuel cell vehicles to the resorts.
The partnership also looks at the long-term vision of introducing autonomous vehicles and advanced Air Mobility solutions to the beautiful Saudi Red Sea destinations.
The partnership aligns with Saudi Arabia’s Vision 2030 strategy for a net zero-emission society by 2060.
Signing ceremony
The signing ceremony of the MoU was held at the Red Sea Global headquarters in Riyadh, attended by John Pagano, Group CEO of RSG, and Dongkun Lee, Head of the Future Growth Strategy Sub-Division at Hyundai Motor Group.
The MoU signed by RSG and the Hyundai Motor Group signifies a significant leap toward introducing advanced green mobility solutions in Saudi Arabia’s luxury resort spaces.
Echoing these sentiments, Dongkun Lee, Head of the Future Growth Strategy Sub-Division at Hyundai Motor Group, said, “This partnership signifies our shared commitment to a sustainable and innovative mobility future for humanity. We will accelerate the validations and explore more long-term goals to build a greener and smarter ecosystem in the region.”
Visionary Partnership for Sustainable Mobility
This collaboration aims to explore opportunities to deploy Hyundai’s cutting-edge technology, electric battery, and hydrogen fuel cell vehicles in the picturesque destinations of the Red Sea.
The partnership also showcases a long-term vision of introducing autonomous vehicles and advanced air mobility solutions to these beautiful Saudi Red Sea destinations.
John Pagano, Group CEO of RSG, said,
“Hyundai Motor Company is a world leader in sustainable and luxury mobility. By working together and integrating its cutting-edge technology and eco-friendly mobility solutions into our destinations, we can continue setting new benchmarks in carbon-neutral operations while exceeding our guests’ expectations for style, comfort, and environmental responsibility.”
This confluence of technology and sustainability is vital to realizing Saudi Arabia’s Vision 2030 strategy for a net-zero emission society by 2060.
Redefining Transportation Landscape
The alliance between RSG and Hyundai Motor Group is a strategic move that aligns with the PIF’s net-zero emissions target by 2050.
This collaboration also resonates with PIF’s mandate to diversify the Saudi economy by developing strategic sectors, including renewable energy and tourism, while investing in innovation for the future.
These entities’ synergy will redefine the transportation landscape within Saudi Arabia’s luxury resort spaces.
Looking Ahead
With the world’s attention focused on the impact of climate change and the urgent need for sustainable solutions, this partnership between RSG and Hyundai Motor Group sends a strong message about the importance of integrating sustainability into every aspect of our lives.
More Hyundai Ventures in Saudi
Hyundai’s $500 Million Car Manufacturing Plant
The Public Investment Fund (PIF) of Saudi Arabia and Hyundai have joined forces to establish a $500 million car manufacturing plant in the Kingdom.
The objective is to manufacture 50,000 vehicles annually, encompassing electric vehicles, commencing in 2026. PIF will hold the majority stake of 70%, while Hyundai will own the remaining 30%.
The Broader EV Landscape In Saudi Arabia
Ceer’s EV Manufacturing Plant in KAEC
Ceer, a prominent electric vehicle brand based in Saudi Arabia, has recently granted a substantial $1.3 billion contract to develop the Ceer Electric Vehicle Manufacturing Complex in King Abdullah Economic City, located close to Jeddah.
The contract has been entrusted to Modern Building Leader, a leading construction firm in Saudi Arabia. This state-of-the-art facility, sprawling across 1 million square meters, is slated to incorporate specialized zones dedicated to various stages of electric vehicle production.
Ceer, established as a collaborative effort between The PIF and the Taiwanese company Foxconn, incorporates advanced technology sourced from BMW into its operations.
BYD Launch in Saudi Arabia
Al-Futtaim Electric Mobility Company has launched BYD, the leading brand in new energy vehicles, in Saudi Arabia to introduce green mobility.
During Founding Week, BYD launched a range of electric and hybrid vehicles, including the luxurious BYD HAN, BYD SEAL, and eco-friendly BYD SONG PLUS, in Riyadh, Jeddah, and Dhahran.
In the last three months of 2023, BYD has surpassed Tesla as the top-selling electric vehicle brand globally.
The PIF’s Electric Vehicle Infrastructure Company
The Public Investment Fund (PIF) launched the Electric Vehicle Infrastructure Company (EVIQ) to provide top-tier charging facilities for electric vehicles throughout Saudi Arabia. The ambitious goal is to deploy over 5,000 fast chargers at over 1,000 locations by 2030.
These charging stations will be strategically installed in cities and on major roads, conforming to all applicable regulations and standards.
NEOM Investment into PONY.AI
Sauid’s NEOM Investment Fund is investing $100 million into Pony.ai, an autonomous driving technology company, to aid in developing and producing autonomous driving vehicles for NEOM and important markets in the Middle East.
This new agreement entails collaboration between NEOM and Pony.ai to advance autonomous driving services, produce innovative vehicles, and establish intelligent vehicle infrastructure throughout NEOM and pivotal Middle Eastern markets.
Lucid Motors Electric Vehicles Manufacturing
Lucid Motors has manufactured 800 electric vehicles in Saudi Arabia at its inaugural global facility in September of 2023. Originally constructed in Arizona, the vehicles underwent final assembly in Saudi Arabia to manufacture 150,000 EVs annually within the King Abdullah Economic City.
A significant portion of Lucid Motors, totaling 60%, is owned by the Saudi Public Investment Fund (PIF), and a pact with the Saudi Arabian government commits to the sale of 100,000 electric vehicles within the forthcoming decade.
Keep Reading: Ceer To Establish First Electric Vehicle Manufacturing Site in KAEC
