The South Korean concern is investing $500 million in the project. Abdullah Al-Othman, president of King Saud University, said the first car — a five-passenger model — is expected to roll out within two years. The Kingdom plans to export it to the Gulf nations and North Africa. He said in a statement Sunday that the Wadi Al-Riyadh Technology Firm, affiliated with the university, will have a 10 percent share, while the South Korean company will put some 30 percent. The rest will be offered to investors.