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Hyundai, Red Sea Global agree on EV, AAM projects as part of Vision 2030

South Korea’s top automaker Hyundai Motor Group said on Monday it has agreed with Saudi Arabia’s state-sponsored developer Red Sea Global (RSG) to cooperate in the Middle Eastern country’s push for electrification and other eco-friendly future mobility projects.

Under a memorandum of understanding signed in Riyadh on Sunday, the two companies agreed to work together to test Hyundai Motor Co.'s electric vehicles and hydrogen-powered cars in the resort complex on the Ummahat Islands and the ultra-luxury Amaala tourist resort on the northwest coast – two mega tourist projects under development by RSG.

The initial agreement was signed by Lee Dong-gun, vice president of the Future Growth Strategy Sub-Division at Hyundai’s Global Strategy Office, and John Pagano, chief executive of RSG.

Read the full story at Korea Economic Daily

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