Saudi automotive market has a 42% share in the MENA region and a sales forecast of 920,000 vehicles by 2035
The event continues on Thursday, 2 May 2024, at the Riyadh International Convention and Exhibition Centre
Riyadh, KSA: Driving towards a sustainable future, the Saudi Arabian automotive industry is rapidly evolving under the ambitious Vision 2030 framework. This is according to Eng. Aftab Ahmed, Chief Advisor -Automotive Cluster, National Industrial Development Centre (NIDC), Ministry of Industry and Mineral Resources, who was speaking at the 6th edition of Automechanica Riyadh, which continued today at the Riyadh International Convention and Exhibition Center (RICEC).
Eng. Ahmed detailed the Kingdom's strategic approach to enhancing its automotive industry and emphasised its innovative practices, international partnerships, and commitment to environmental sustainability as key drivers propelling the sector forward. Saudi Arabia is shaping a future-ready automotive market through transformative initiatives such as embracing King Abdullah Economic City (KAEC) as an auto cluster with original equipment manufacturers (OEMs) and suppliers such as Ceer, Lucia and Hyundai already in residence, with others on the way.
Underscoring the critical role of the automotive sector in realising the economic diversification goals, Eng. Ahmed said: “Saudi Arabia has the commitment and the resources to transform into an industrial-based economy and raise the share of non-oil exports in non-oil GDP from 16% to 50%.
The NIDC’s strategy is to immediately invest in full-scale manufacturing projects in light vehicles for the regional and global markets in 2026-2027 and in Fuel Cell Electric projects for commercial vehicles by 2030. This is in tandem with the automotive parts ecosystem, which should focus on parts shared between BEV and Ice-based vehicles.
The session also covered the importance of partnerships and global collaborations in enhancing the local industry's capabilities through a supplier ecosystem with 40%+ local gross value added, a 66,000+ strong ecosystem of jobs, and a US$7 billion automotive industry GDP.
Also speaking at the Automechanika Academy, Mr. Ammar Altaf, Assistant Deputy Minister, Ministry of Investment, highlighted: “The Kingdom has embarked on an ambitious strategy that is no longer a strategy on paper, but we can see it being implemented on the ground.
“Our target is to have 600,000 vehicles manufactured in the Kingdom by 2035, with a SAR 22 billion impact on our GDP—last year alone, we announced a SAR 12 million investment by Lucid Group and a SAR 27 billion investment by Ceer, the national brand of EVs, to be launched towards the end of 2026. Combined, these two factories we aspire to manufacture around 320,000 vehicles."
Under the patronage of the Saudi Arabian Ministry of Investment, Automechanika Riyadh 2024 has witnessed record-setting participation of more than 340 exhibitors from 26 countries, expanding over three halls and 11,000 square metres. This edition has seen a 448% increase in exhibitors, a strong indicator of the event's pivotal role in the automotive industry.
The event, which is expected to attract over 8,000 visitors and feature six international pavilions, also includes the Premium Club, which is integral to fostering invaluable industry connections. Additionally, a targeted workshop on the final day will highlight the enduring value of professional development in automotive aftersales.
The 6th edition of Automechanika Riyadh, which will continue on Thursday, 2 May, showcases seven key product focus areas: Parts & Components, Tyres & Batteries, Oils & Lubricants, Accessories & Customising, Diagnostics & Repairs, Body & Paint, and Care & Wash. The event is organised by 1st Arabia Tradeshows & Conferences under a license from Messe Frankfurt Exhibition GmbH.
About Automechanika Riyadh
Automechanika Riyadh, licensed by Messe Frankfurt GmbH, will take place from 30 April – 2 May 2024 at Riyadh International Convention and Exhibition Center. This will be the 6th edition of Automechanika in Saudi Arabia as the leading exhibition dedicated to the automotive aftermarket industry in the Kingdom. The dedicated exhibition is one of 14 instalments of Automechanika – the most successful and largest automotive aftermarket exhibition brand in the world.
For more information, please visit our website.
About 1st Arabia
1st Arabia Tradeshows & Conferences is a leading exhibition & conference organizer in the Kingdom of Saudi Arabia. Headquartered in Riyadh, 1st Arabia has regional offices in Jordan and is set to expand its operations in more countries regionally. 1st Arabia organizes top international trade exhibitions and conferences that provide unparalleled networking and business opportunities for companies looking to excel and grow within the Kingdom. Apart from conducting quality and high profile B2B trade fairs, country specific shows, corporate events, conferences, events management and festivals, 1st Arabia also provides a complete marketing tool and exhibition solutions to their valued clients. 1st Arabia is the only MICE organization in the Kingdom of Saudi Arabia who is a member of the International Organizations like IAEE, ICCA, MPI PCMA, SISO and UFI.
For more information, please visit our website. https://1starabia.com/