The Kingdom of Saudi Arabia has announced the launching of Ceer – “the first Saudi electric vehicle brand that will contribute to Saudi Arabia’s automotive manufacturing sector.” The announcement is part of PIR and Saudi’s plan to diversify the country’s economy, as it moves away from oil dependency.
Ceer will also contribute to Kingdom’s “efforts towards carbon emissions reduction and driving sustainability to address the impact of climate change.” In the official announcement published by Saudi Press Agency (SPA), his Royal Highness Crown Prince Mohammad bin Salman bin Abdulaziz, Prime Minister and Chairman of the Public Investment Fund (PIF) said;
Saudi Arabia is not just building a new automotive brand, we are igniting a new industry and an ecosystem that attracts international and local investments, creates job opportunities for local talent, enables the private sector, and contributes to increasing Saudi Arabia’s GDP over the next decade, as part of PIF’s strategy to drive the economic growth in line with Vision 2030.
Ceer is the first Saudi automotive brand that will will design, manufacture and sell a range of electric vehicles for consumers in Saudi Arabia and the MENA region. It is projected that Ceer will attract more than US$150 million of foreign direct investment, and create up to 30,000 direct and indirect jobs. Ceer is projected to directly contribute US$8 billion to Saudi Arabia’s GDP by 2034.
Ceer motors, the company behind Ceer, is a joint venture between PIF and Foxconn, will be using technology from BMW for its vehicle development process. Foxconn will also develop the electrical architecture of the vehicle, to power its infotainment, connectivity and autonomous driving technologies. Each vehicle will be designed and manufactured in Saudi Arabia, and will be tested to the highest global automotive quality control and safety standards. Ceer vehicles are expected to be on the road by 2025.
Source: SPA, ceermotors.com
