The Saudi Ministry of Investment, in collaboration with the National Center for Industrial Development, Stellantis and Petromin signed a Memorandum of Understanding, with the aim of exploring a joint investment effort for the construction cars in her Kingdom of Saudi Arabia.
On the occasion of the US-Saudi Arabia Investment Forum, the Ministry of Investment of Saudi Arabia (MISA), the National Industrial Development Center (NIDC), Stellantis and Petromin Corporation signed a four-way Memorandum of Cooperation (MoU) to explore the establishment of an automotive manufacturing project within the Kingdom of Saudi Arabia.
The signing ceremony took place on November 19, 2025, at the John F. Kennedy Center, in Washington. This cooperation aims to strengthen the economic cooperation between the Kingdom of Saudi Arabia and the United States of America.
This Forum serves as a powerful platform to enhance economic cooperation between the two nations and explore new investment horizons in critical sectors such as energy, technology, financial services, infrastructure and healthcare. It features strategic platforms for exchanges between Saudi and US officials, business leaders, as well as exclusive business partnering opportunities.
This strategic signing reinforces the Kingdom’s commitment to Vision 2030 and its ambition to become a regional hub for advanced manufacturing and innovation.
This joint initiative will evaluate the feasibility of developing a manufacturing plant for the local production of both commercial and passenger vehicles, while leveraging Stellantis’ iconic portfolio of American marques. The project aims to increase localization rates in the vehicle sector, contributing to the development and sustainability of the automotive industry in the Kingdom of Saudi Arabia.
The partnership brings together the complementary strengths of each organization, reflecting their shared ambition to create a competitive and sustainable automotive ecosystem in Saudi Arabia.
This Memorandum of Understanding marks a significant step forward in the partnership between Stellantis and Petromin, further supporting their shared commitment, which was implemented through a Business Partnership Agreement earlier this year, to establish a strong industrial presence in the Kingdom.
The project is expected to create employment opportunities, strengthen regional supply chains and stimulate the development of small and medium-sized enterprises. It supports the Kingdom’s vision to become a center of advanced manufacturing and innovation.