JEDDAH - His Royal Highness Prince Khalid bin Sultan bin Abdullah Al-Faisal, President of the Saudi Automobile and Motorcycle Federation, announced this evening the launch of the Saudi Motor Company, the commercial entity designated to promote and organize motor sport events in the Kingdom.

This came during a ceremony held on this occasion in King Abdullah Sports City in Jeddah, in the presence of the company's CEO, Martin Whitaker, and a number of prominent figures in the field of global motorsport.

This launch comes within the framework of the preparations of the Saudi Automobile and Motorcycle Federation, to organize the Formula 1 Saudi Grand Prix, which will be hosted by Jeddah Corniche Circuit from 3-5 December.

His Royal Highness Prince Khalid bin Sultan Al Abdullah Al-Faisal praised the support received by the sports sector in general and motorsports in particular, from the government of the Custodian of the Two Holy Mosques - may God protect him - in what contributes to achieving the outputs of the Kingdom’s ambitious Vision 2030 to advance and develop this sports sector, and raise its contribution to the GDP. In addition to creating the appropriate environment for the establishment and organization of international events on the homeland, and providing the appropriate infrastructure for the success of these events.

His Highness pointed out that the growth of motor sport in the Kingdom is one of the great success stories in the modern history of the Kingdom, stressing the need to focus efforts to make full use of this wonderful opportunity for the Kingdom provided by the establishment of the Saudi Motor Sports Company, to help promote and expand the scope of motor sport in the country and maximize opportunities. The numerous hosting of these major events for the Saudi people.

His Highness said: "We can now prepare ourselves as home to the largest global motorsport events such as Formula 1, Formula E, Dakar Rally and Extreme E, and we have proven time and time again our ability to provide and organize global events with high professionalism."

It is worth noting that the integration of all current and future motor racing events and series under the umbrella of the Saudi Motorsports Company will lead to many benefits, such as improving operational efficiencies, and achieving savings in production costs, allowing the participation of employees across events, in addition to commercial benefits such as rights packages and improving Commercial revenue via a curated calendar of national motorsport events. In addition, new events and racing series that complement existing motorsports events in Saudi Arabia will be added to the growing portfolio, while the Saudi Motorsports Company will also seek to develop new Saudi talent that can be grown locally and exported internationally.