Hyundai Motor Group said Monday it has signed an initial pact with Saudi Arabian developer Red Sea Global (RSG) for partnership in future mobility solutions in the Middle Eastern country.
Under the memorandum of understanding signed in Riyadh on March 24 (local time), the two companies will test Hyundai Motor’s electric vehicles in local resort and tourism areas, and explore joint business opportunities in next-generation mobility solutions, Hyundai said in a statement.
Hyundai plans to test its pure electric and hydrogen fuel-cell electric vehicles at the Ummahat Islands resort in the Red Sea area and the eco-friendly Amaala tourism complex on the west coast of Saudi Arabia, which are being developed by RSG.
They will introduce advanced air mobility (AAM) solutions and autonomous vehicles in the Ummahat resort and the Amaala complex in the long term, the statement said.
AAM encompasses the urban air mobility and regional air mobility segments to offer environmentally friendly air mobility solutions for
intracity and intercity transportation.
PSG is owned by Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF).
Last year, the Korean automaker signed an agreement with the PIF to build a plant that can assemble complete knockdown units into 50,000 vehicles a year at the King Abdulla Economic City.
Source: Yonhap News Agency