Red Sea Global (RSG) and Hyundai Motor Group seek opportunities to deploy eco-friendly and innovative mobility solutions in luxury resorts in Saudi Arabia.
Agreement calls for short-term validation and rollout of eco-friendly vehicles, and mid- to long-term exploration of autonomous vehicles and Advanced Air Mobility (AAM)
RIYADH: Red Sea Global (RSG), the developer behind the regenerative
tourism destinations The Red Sea and AMAALA, and Hyundai Motor Group (the Group)
have agreed to collaborate on deploying eco-friendly mobility solutions in RSG’s luxury
resorts in Saudi Arabia while exploring opportunities to implement innovative future mobility solutions.
RSG and The Group signed a Memorandum of Understanding (MoU), with John Pagano,
Group CEO of Red Sea Global, and Dongkun Lee, Head of the Future Growth Strategy Sub-
Division at Hyundai Motor Group, attending the ceremony at Red Sea Global Headquarters
in Riyadh on March 24.
“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 continue setting new benchmarks in carbon-
neutral operations while exceeding our guests’ expectations for style, comfort, and
environmental responsibility,” said John Pagano, Group CEO of RSG.
Under the MoU, RSG and the Group will jointly explore potential opportunities in various
fields. In the short term, both parties will focus on validating and deploying the Group’s eco-friendly mobility solutions, such as battery electric and hydrogen fuel cell vehicles. In the mid to long term, they will explore future mobility solutions, such as autonomous vehicles, Advanced Air Mobility (AAM) and maritime vessels.
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 Group’s comprehensive eco-friendly business portfolio, ranging from individual mobility
solutions to extensive charging infrastructure, provides a wide range of opportunities. Based on this, the partnership is expected to boost the Kingdom's Vision 2030 strategy to achieve a net-zero emission society by 2060, accelerating the country’s transition to a green economy.
Last year The Red Sea welcomed its first guests, and the Red Sea International Airport has
been receiving a regular schedule of domestic flights since September 2023 – international
flights are set to commence imminently. Two of the destination’s hotels are open, with three more on track to open this year.
A second destination, Thuwal Private Retreat, will also open this year. AMAALA remains on
track to welcome first guests in 2025, when the first resorts complete as part of Triple Bay
phase one, along with Corallium and the iconic Yacht Club.
About Red Sea Global:
Red Sea Global (RSG – http://www.redseaglobal.com) is a closed joint-stock company wholly owned by the Public Investment Fund (PIF) of Saudi Arabia.
It is a vertically integrated real estate developer with a diverse portfolio across tourism, residential,experiences, infrastructure, transport, healthcare, and services. This includes the luxury regenerative tourism destinations The Red Sea, which began welcoming guests in 2023, and AMAALA, which remains on track to welcome first guests in 2025.
A third destination, Thuwal Private Retreat, will open this year, and RSG has also been entrusted with refurbishment works at Al Wajh Airport, focused on upgrading the existing terminal and infrastructure,and building a new international terminal.
RSG is a cornerstone of Saudi Arabia’s ambition to diversify its economy. Across its growing portfolio of destinations, subsidiaries and businesses, RSG seeks to lead the world towards a more sustainable future, showing how responsible development can uplift communities, drive economies,and enhance the environment.
About Hyundai Motor Group:
Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel,and construction as well as logistics, finance, IT, and service. With about 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia and Genesis. Armed with creative thinking, cooperative communication and the will to take on any challenges, we strive to create a better future for all.
