Riyadh - Sharikat Mubasher: SNAM Automobiles Industries Company, the Kingdom's first carmaker, is set to establish a new factory in Jubail city, and it is expected to start manufacturing by mid-2024, a tweet by Saudi Projects unveiled.

Fahd Aldohish, CEO of SNAM, added that the new factory is set to operate with capacity estimated at 30,000 cars among its first phase.

It should be mentioned that SNAM has a one-of-its-kind car assembly factory in Jubail industrial city with an estimated capacity of around 10,000 cars.

As the first carmaker in Saudi Arabia, SNAM aims at producing automobiles with a domestic brand based on international brand, in addition to localizing and subsidizing the automotive industry through international training and education.

Moreover, it targets establishing local suppliers in Saudi Arabia for automotive parts.