By TN Media News:
Riyadh, Saudi Arabia: The Saudi automotive industry is entering a transformative phase, with a strong push for local manufacturing and international collaborations. The Ministry of Industry and Mineral Resources announced new initiatives to position the Kingdom as a regional leader in automotive production, aligning with Vision 2030 goals.
Currently, Saudi Arabia holds a 42% market share in the MENA automotive sector, with projected sales of 920,000 vehicles by 2035.
Automechanika Riyadh 2024 Showcases Saudi Arabia’s Automotive Vision:
These announcements were made during the 6th edition of Automechanika Riyadh, held at the Riyadh International Convention and Exhibition Center on May 2, 2024. The event has become a key platform for automotive innovation in the Kingdom.
Eng. Aftab Ahmed, Chief Advisor of the Automotive Cluster at the National Industrial Development Centre (NIDC), highlighted the rapid growth of Saudi Arabia’s automotive sector under Vision 2030. He emphasized the government’s focus on:
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Innovative manufacturing practices
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International partnerships
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Environmental sustainability
King Abdullah Economic City as Automotive Hub:
One of the major initiatives is the development of King Abdullah Economic City (KAEC) as an automotive cluster. Leading original equipment manufacturers (OEMs) and suppliers have already set up operations, with more expected to join.
Eng. Ahmed stated:
“Saudi Arabia has the commitment and resources to transition into an industrial economy. We aim to increase non-oil exports from 16% to 50% of GDP.”
Automotive Manufacturing Targets and Investments:
The NIDC’s automotive strategy includes:
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Launching full-scale light vehicle manufacturing projects for regional and global markets by 2026-2027.
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Developing Fuel Cell Electric Vehicle (FCEV) projects for commercial use by 2030.
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Building a robust automotive parts ecosystem, focusing on components shared between Battery Electric Vehicles (BEVs) and Internal Combustion Engine (ICE) vehicles.
Major Investments Fuel Industry Growth:
Ammar Altaf, Assistant Deputy Minister at the Ministry of Investment, revealed that Saudi Arabia plans to manufacture 600,000 vehicles annually by 2035. This will generate a SAR 22 billion impact on GDP.
Notable recent investments include:
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SAR 12 million by Lucid Group
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SAR 27 billion by Ceer, Saudi Arabia’s first national EV brand, set to launch in late 2026
Together, these brands plan to manufacture 320,000 vehicles.
Automechanika Riyadh 2024: A Growing Platform:
Under the patronage of the Saudi Ministry of Investment, Automechanika Riyadh 2024 has achieved record participation:
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Over 340 exhibitors from 26 countries
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Spread across three halls and 11,000 square meters
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448% increase in exhibitors compared to previous years
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Expected to attract over 8,000 visitors
The event features six international pavilions and includes the Premium Club, fostering crucial industry connections. A targeted workshop on the final day will focus on professional development in the automotive aftersales sector.
Key Focus Areas at Automechanika Riyadh:
The event highlights seven major automotive segments:
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Parts & Components
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Tyres & Batteries
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Oils & Lubricants
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Accessories & Customizing
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Diagnostics & Repairs
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Body & Paint
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Care & Wash
Automechanika Riyadh is organized by 1st Arabia Tradeshows & Conferences, under a license from Messe Frankfurt Exhibition GmbH.
