The Crown Prince introduces Ceer, the first Saudi electric car brand

The Public Investment Fund (PIF) Chairman and Crown Prince and Prime Minister Mohammad bin Salman announced the launch of Ceer, the first Saudi electric vehicle brand, on Thursday. Ceer will support Saudi Arabia’s automotive manufacturing industry.
The launch comes in line with PIF’s strategy to focus on unlocking the capabilities of promising sectors locally that can help drive the diversification of the economy to help achieve the objectives of Vision 2030. In addition, the company will contribute to Saudi Arabia’s efforts towards carbon emissions reduction and driving sustainability to address the impact of climate change.
While announcing the launch, the Crown Prince 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, and enables the private sector. This would also contribute to increasing Saudi Arabia’s GDP over the next decade, as part of PIF’s strategy to drive economic growth in line with Vision 2030.”
Ceer is the first Saudi automotive brand to produce electric vehicles in Saudi Arabia and will design, manufacture and sell a range of vehicles for consumers in Saudi Arabia and the MENA region, including sedans and sports utility vehicles. As part of PIF’s strategy to diversify Saudi Arabia’s GDP growth by investing in promising growth industries, Ceer will attract over $150 million of foreign direct investment, and create up to 30,000 direct and indirect jobs. Ceer is projected to directly contribute $8 billion to Saudi Arabia’s GDP by 2034.
The company, which is a joint venture between PIF and Hon Hai Precision Industry Co. (Foxconn), will license component technology from BMW for use in the vehicle development process. Foxconn will develop the electrical architecture of the vehicles, resulting in a portfolio of products that will lead in the areas of infotainment, connectivity, and autonomous driving technologies.
Each vehicle will be designed and manufactured in Saudi Arabia and tested to the highest global automotive quality control and safety standards. Ceer vehicles are scheduled to be available in 2025.
Foxconn is thrilled about our relationship with PIF to establish a new automotive firm that will concentrate on designing and producing electric vehicles in and for Saudi Arabia, according to Young Liu, chairman of Hon Hai Technology Group. “We will use Foxconn’s technological know-how to support Ceer’s aim of building a variety of iconic electric vehicles that are designed around the concepts of connectivity, infotainment, and autonomy. This is what Ceer will accomplish in Saudi Arabia and the rest of the region, he continued. “We want to make electric vehicles the norm”.