The first Saudi electric vehicle brand, Ceer, was introduced by Crown Prince Mohammed bin Salman of Saudi Arabia.
According to the Saudi Press Agency, Ceer will develop, build, and sell a variety of vehicles, including sedans and sports utility vehicles, for customers in Saudi Arabia and the Middle East and North Africa. Ceer is the first Saudi automotive brand to create electric vehicles in the Kingdom.
The brand’s launch is in keeping with the Saudi Public Investment Fund’s policy, which focuses on maximising local industries’ potential to support economic diversification. It will boost Saudi Arabia’s automobile manufacturing industry.
The company will also support Saudi initiatives to lessen carbon emissions and promote sustainability in order to combat the effects of climate change.
Ceer will draw over US$150 million in foreign direct investment and generate up to 30,000 direct and indirect jobs as part of PIF’s plan to diversify Saudi Arabia’s gross domestic product growth by investing in attractive emerging industries.
According to SPA, Ceer is anticipated to directly contribute $8 billion to Saudi Arabia’s GDP by 2034.
The business, a joint venture between PIF and Foxconn, will obtain a component technology licence from BMW for use in the creation of vehicles.
The electrical architecture of the vehicles will be developed by Foxconn, resulting in a line-up of goods that will set the bar for infotainment, connection, and autonomous driving technology.
The highest international automotive quality control and safety standards will be applied to each vehicle’s testing. In 2025, Ceer vehicles should be accessible.
