Saudi Arabia’s Ambition to Produce 400,000 Cars Annually by 2034

As part of its long-term industrial strategy, Saudi Arabia has set an ambitious goal to produce 400,000 vehicles annually by 2034. This vision encompasses both electric and traditional vehicles and is a cornerstone of the Kingdom’s Vision 2030 initiative.

To achieve this target, the government is investing heavily in automotive manufacturing capabilities, research and development, and workforce training. Initiatives like the Ceer Motors launch and Hyundai-PIF joint venture are foundational steps towards realizing this goal. The push for domestic production will enhance economic diversification, reduce import reliance, and elevate Saudi Arabia’s standing in the global automotive industry.

Incentive programs are also being introduced to attract international automakers and component manufacturers to establish operations in Saudi Arabia. The Kingdom aims to build a complete automotive value chain, from raw materials to final assembly. As the ecosystem matures, Saudi Arabia will be better positioned to export vehicles, boosting non-oil revenue and strengthening economic resilience.