Hyundai Motor Manufacturing Middle East (HMMME), a joint venture between the Public Investment Fund (PIF) and Hyundai Motor Company, has officially launched its $500 million car factory at the King Salman Automotive Cluster in King Abdullah Economic City (KAEC). The groundbreaking ceremony marks a significant step forward for the automotive sector in Saudi Arabia, according...
Dr. Greiche Group has announced a substantial investment of EGP 500 million (approximately $9 million) to establish a high-tech automotive glass facility in 10th of Ramadan City, Egypt. This investment aligns with the country’s national strategy to localize advanced industries and address the domestic production gap, according to a press release from the company. The...
Elite Group Holding, the exclusive partner of Jetour UAE, has propelled the brand to an impressive 230% year-on-year growth from 2023 to 2024. This expansion in the UAE market comes as Jetour strengthens its market share, broadens its customer base, and establishes itself as a leading SUV brand in the region. The growth is attributed...
Abu Dhabi-based investment vehicle CYVN Holdings and Bahrain’s Mumtalakat Holding Company, the sovereign wealth fund of Bahrain, have announced the completion of their acquisition of McLaren Automotive, along with a non-controlling stake in McLaren Racing. This announcement follows the fulfillment of customary closing conditions and the receipt of necessary regulatory approvals to finalize the deal....
Smart Mobility International (SMI) has announced the introduction of the AVATR brand in the UAE, marking a significant step in the region’s automotive landscape. The UAE will be the first international market to host these innovative range-extended electric vehicles, following an agreement signed with AVATR Technology. SMI is a subsidiary of a major UAE automotive...
Lynk & Co has announced a partnership with Galadari Brothers to launch its innovative vehicle lineup in the UAE market. This collaboration positions Galadari Motors as the official distributor of Lynk & Co vehicles throughout the region, enhancing their existing range of mobility offerings. Lynk & Co, a premium automotive brand that is part of...
Deepal has officially launched the DEEPAL S07 in the UAE, which is the company’s first market in the Middle East and Africa. This comes after the DEEPAL S07 was recently released in Singapore and Hong Kong, showing that the car is an important part of Changan Auto’s global plan. The DEEPAL S07 is more than...