Saleh Al -Salami, CEO of the Nationwide Heart for Industrial Improvement
Eng. Saleh Al -Salami, CEO of the Nationwide Heart for Industrial Improvement, stated that the auto business sector could be very promising, and that the amount of anticipated investments in industries linked to the manufacturing of automobiles in Saudi Arabia is about 90 billion riyals.
Al -Salami added in an interview with CNBC Arabia, that Saudi Arabia is likely one of the largest nations on the earth as an import of automobiles, with an import measurement of 830 thousand automobiles yearly, however it doesn’t have native industries.
He continued: We began an bold plan to supply automobiles within the Kingdom by means of 3 automotive producers firms, that are Lucid, Hyundai and the Sir Al -Wataniya electrical automobiles firm “Sir”, and we count on manufacturing to exceed 350 thousand electrical automobiles and one other with inside combustion by 2030.
He defined that there are automotive firms that began gradual manufacturing in Saudi Arabia, which is Lucid, and will probably be adopted by Sir Firm within the fourth quarter of the 12 months 2026, then Hyunadi, which can begin manufacturing in 2027.
He stated that the Kingdom not solely targets the ultimate product business, but in addition to enter the manufacturing inputs through which it has an awesome aggressive capability, explaining that the sector will contribute to creating new merchandise, together with rubber and automotive tires, and that a big manufacturing facility in Saudi Arabia is being established for tires.
He said that there are nice export alternatives within the automotive sector, indicating that the goal as a primary stage within the export course of is the markets of the Gulf states, the Arab nations and North Africa, with expectations that there can be different markets sooner or later, declaring that the main focus will not be solely on the manufacturing of passenger automobiles that additionally contains vans and buses, revealing upcoming tasks within the bus business in addition to various different tasks that can be introduced on the time.
Concerning the Nationwide Business Technique, the CEO of the Nationwide Heart for Industrial Improvement said that the technique recognized 12 focused sectors and the middle is engaged on 10 of them, indicating that the chemical industries are among the many most distinguished sectors that the middle works on, contemplating the presence of the aggressive benefit of the Kingdom with the supply of fuel, values and product, and the purpose is so as to add added worth to those merchandise by means of the work of transformational industries with added worth as a substitute of exporting them as uncooked supplies.
He defined that the chemical industries sector contains 3 specialised sectors that embrace specialised chemical industries, that are very superior industries with nice added worth, most of that are imported from overseas and the Kingdom has the construction wanted to fabricate them regionally, along with the manufacturing industries related to uncooked supplies and has important export alternatives and imprisonment alternatives for imports, in addition to different industries related to the fertilizer sector and a few inorganic industries and the Kingdom has a aggressive distinction Good, work is at present underway on these sectors, and the event of further merchandise to extend the share of native content material within the nationwide product.
In line with knowledge numbersThe Kingdom has witnessed nice progress in automotive makers in recent times, as Crown Prince Mohammed bin Salman launched in November 2022, which is the primary Saudi model for the electrical automotive business within the Kingdom, and plans to launch its first automobiles within the fourth quarter 2026.
The Lucid Motors Group – partly owned by the Public Funding Fund – was formally opened in September 2023, the primary automotive manufacturing facility in King Abdullah Financial Metropolis in Saudi Arabia, and the corporate goals to export about 92% of its manufacturing facility manufacturing in Saudi Arabia to international markets, whereas 13% of it’s allotted to the Gulf states.
It’s noteworthy that Hyundai Center East for Motor Business – the joint mission between the Public Funding Fund and the Hyundai Motor Firm – final Might laid the cornerstone of its new origin throughout the King Salman Car Complicated.
