Saudi Arabia, Stellantis And Petromin Explore Local Vehicle Manufacturing

Dubai (PlantAndEquipment.com) - Saudi Arabia's Ministry of Investment (MISA), the National Industrial Development Center (NIDC), Stellantis, and Petromin Corporation have signed a Memorandum of Understanding (MOU) to examine the development of a car manufacturing project in the Kingdom.

Stellantis, whose worldwide portfolio includes Jeep, Dodge, Ram, Chrysler, Peugeot, Opel, Fiat, Alfa Romeo, and Maserati, will spearhead efforts to localize passenger and commercial vehicle manufacturing.

The partnership aligns with Vision 2030's aims of expanding advanced manufacturing and developing a competitive automotive sector. The feasibility study will look at local manufacturing potential, enhanced localization rates, and the establishment of a domestic supply chain that can support both traditional and electric mobility options.

MISA and NIDC will contribute to the development of the industrial framework and automotive value chain, while Petromin contributes local market knowledge as a potential investor. The project seeks to boost job creation, develop regional supply networks, and establish Saudi Arabia as a future center for automotive innovation and industry growth.