Sanam company intends to produce Rexton by 2021 and establish industrial complexes for auto parts inside Jubail Industrial City in Saudi Arabia.
Sanam plans to assemble Rexton Sport and Rexton Sport Khan starting in 2021 in Saudi Arabia, bringing production to 30,000 units, in collaboration with South Korea’s SsangYong Motors, which plans to expand its presence in the Saudi market.
“Yonhap News Agency” quoted SsangYong Motors as saying on Thursday that it signed with Saudi automaker Sanam a license agreement for the assembly of passenger cars in Saudi Arabia on the 8th of this month in the Saudi industrial city of Jubail with the participation of Bye Byung-tae, SsangYong’s CEO and Fahad Al-Dheesh, Sanam’s CEO.
The Saudi government is seeking to strengthen the automotive industry within the framework of Saudi Arabia’s Vision 2030. In this context, Sanam has provided 100,000 square meters of land in Jubail Industrial City for the manufacture of automobiles and spare parts.
Sanam mentioned that it will set up industrial complexes for auto parts within Jubail Industrial City, which will contribute to the localization of the automobile and spare parts industry in Saudi Arabia.
SsangYong’s CEO, Byung-tae said that this move is of great significance for the company, given Ssang Yong’s increasing share in the Middle East’s automotive market and providing a new growth engine, stressing that the company will continue its efforts to expand its global sales through diversification of export markets and others.