Red Sea Global and Hyundai Motor Group to collaborate on eco-friendly mobility

• Agreement focuses on technologies like battery electric and hydrogen fuel cells
• The two parties will also explore future mobility, including autonomous vehicles
• Partnership aligns with PIF’s mandate to diversify the Saudi economy by developing strategic sectors

Red Sea Global (RSG), the developer behind regenerative tourism destinations The Red Sea and AMAALA, and Hyundai Motor Group, have agreed to collaborate on deploying eco-friendly mobility technologies in RSG’s luxury resorts in Saudi Arabia.

Hyundai Motor Group and the PIF-owned RSG will jointly explore a variety of opportunities, starting with validating and deploying solutions such as battery electric and hydrogen fuel cell vehicles. In the mid-to long-term, they will explore future mobility, such as autonomous vehicles, advanced air mobility, and maritime vessels.

John Pagano, Group CEO of RSG, said: “Hyundai Motor Company is a world leader in sustainable and luxury mobility. By working together and integrating its cutting-edge technology and eco-friendly mobility solutions into our destinations, we have the opportunity to set new benchmarks in carbon-neutral operations while exceeding our guests’ expectations for style, comfort, and environmental responsibility.”

Dongkun Lee, Head of the Future Growth Strategy Sub-Division at Hyundai Motor Group, said: “This partnership signifies our shared commitment to a sustainable and innovative mobility future for humanity. We will accelerate the validations and explore more long-term goals to build a greener and smarter ecosystem in the region.”

The partnership aligns with PIF’s net zero emissions target by 2050, and the Fund’s mandate to diversify the Saudi economy by developing strategic sectors, including renewable energy and tourism, while investing in innovation for the future.

RSG and Hyundai Motor Group signed a Memorandum of Understanding at a ceremony at Red Sea Global headquarters in Riyadh.