The rector of King Saud University (KSU) has announced the creation of a joint venture with the South Korean brand Digma Automotive Technology, which prepared for the birth of the first car manufacturer in Arabic. The $ 500 million allocated to create the company are provided to 15% from the Wadi al-Riyadh Technology (KSU arm member of the investment arm), 30% by the Korean group and the remainder by private investors. As anticipated by Abdullah Al-Othman, president of KSU, the first car to be produced will be a small car with a price equivalent to € 7.000/9.000 and interior space for five occupants, addressed both to the Gulf as the North African market. The debut is expected in early 2013. No indication about the future availability of Gazal-1, an SUV from Mercedes G-Class and exposed during the last Geneva Motor Show.
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