Leading US car manufacturers GM, Chrysler and Ford, often referred to as the “Big Three” plan to set up their production lines in the Yanbu automobile complex in Saudi Arabia, said a report.
These auto giants are seriously studying proposals to set up their plants in the kingdom, reported the Arab News.
The new assurance came following a meeting of the Saudi-American Business Council in Detroit when the US side said it would press on the car manufacturers in invest in the Saudi market, the report said.
During the Detroit meeting, the Saudi side gave a detailed presentation on the incentives offered by the Kingdom to foreign investors, especially in Yanbu automobile complex.
Ford has been seriously studying proposals to establish production lines in Saudi for more than a year now, said the report citing a senior Saudi auto expert.
“Ford was reluctant at the beginning because of the long procedures for setting up projects, but it has changed its views because of the emerging circumstances,” remarked Nabil Al-Husin, a member of the National Committee for Car Representatives at the Council of Saudi Chambers.