Euisun Chung and Crown Prince Discuss Hyundai's Expansion in Saudi Arabia and New Plant Developments

Euisun Chung and Crown Prince Mohammed bin Salman Meet to Discuss Future Developments

On October 28, 2025, Euisun Chung, the Executive Chair of Hyundai Motor Group, embarked on an essential visit to Saudi Arabia, a nation witnessing significant industrial transformation and growth. This meeting with His Royal Highness Crown Prince Mohammed bin Salman marked an important occasion as both leaders aimed to explore future business avenues that could shape the landscape of the automotive industry within the region.

During this pivotal discussion, Chung and the Crown Prince delved into various collaborative opportunities concerning mobility, smart city initiatives, and more. Notably, it was their first one-on-one meeting, although their previous interactions include discussions during the Crown Prince's visit to Korea in 2022. These exchanges reflect a growing relationship between Hyundai and Saudi Arabia, highlighting Hyundai's commitment as a strategic partner in realizing the country’s ambitious Vision 2030 initiative.

Vision 2030 serves as a national framework designed to diversify Saudi Arabia's economy, traditionally reliant on oil and gas, towards manufacturing and sustainable energy solutions. It encompasses various projects, including the enhancement of the automotive sector, furthering the kingdom's ambition to emerge as a leading automotive hub catering not only to the Middle East but also to North Africa.

Chung emphasized how Hyundai Motor Group aligns with the principles of Saudi Vision 2030, expressing gratitude for the Saudi government's ongoing interest and support. He stated, "Hyundai Motor Group deeply understands the meaning and importance of Saudi Vision 2030. Building on our strong competitive capabilities, we are actively participating in the country's giga projects and are enthusiastic about our potential expansion in future energy sectors, which include renewable energy, hydrogen production, and nuclear energy initiatives."

This meeting also served as an opportunity for Chung to review the progress of Hyundai's new plant currently under construction. This facility is expected to play a crucial role in facilitating local automotive production and contributing to regional employment. The construction is a cornerstone in Hyundai’s strategy to deepen its commitment to Saudi Arabia and tap into the burgeoning automotive market.

Moreover, as Saudi Arabia prepares to host major international events, including the FIFA World Cup and the World Expo, Hyundai's investment represents not only a financial commitment but also a pledge to contribute to the nation’s broader social and economic development goals. The Crown Prince's vision includes attracting global automotive manufacturers, creating a competitive ecosystem that can cater to both local and international markets.

Chung and Crown Prince Mohammed bin Salman exchanged ideas on how Hyundai can further integrate into the country's growth narrative by capitalizing on technological advancements in mobility. Both leaders expressed optimism about pursuing collaborative projects that could lead to new innovations within the automotive industry and beyond.

As Hyundai Motor Group focuses on expanding its footprint, this meeting signals the beginning of a potentially transformative era for both the automaker and the Saudi economy. With the promise of mutual benefits and shared goals, Chung’s visit underscores the importance of strategic partnerships in achieving long-term growth and development. The ongoing dialogue between Hyundai and Saudi Arabia will continue to evolve as both parties navigate the future of mobility, smart cities, and sustainable energy solutions.

In conclusion, the discussions between Euisun Chung and Crown Prince Mohammed bin Salman not only reflect Hyundai’s commitment but also align with Saudi Arabia's broader ambitions outlined in Vision 2030. The cooperative spirit and mutual understanding could pave the way for a variety of innovative projects, fortifying the partnership as it endeavors to overcome challenges and embrace opportunities in the fast-evolving global landscape.