The Ministry of Investment of Saudi Arabia (MISA), the National Industrial Development Center (NIDC), Petromin Corporation and Chrysler-parent Stellantis have signed a four-party memorandum of understanding (MoU) to explore the establishment of a vehicle manufacturing project within the Kingdom.

The signing ceremony took place on 19 November 2025, at the John F. Kennedy Centre in Washington, D.C.  

The joint initiative will evaluate the feasibility of developing a manufacturing plant to localise both commercial and passenger vehicle production, while leveraging the American brand portfolio from Stellantis, according to a press statement.
 
The project aims to increase localisation rates within the vehicle sector, contributing to the growth and sustainability of the automotive industry in Saudi Arabia.

Ministry of Investment of Saudi Arabia (MISA) and National Industrial Development Center (NIDC) will provide support for the industrial development framework, with a focus on building a robust automotive value chain to strengthen the sector.

The project is expected to generate employment opportunities, reinforce regional supply chains, and stimulate the growth of small and medium-sized enterprises. 

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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