Ceer, Saudi Arabia’s first electric vehicle (EV) brand, has been launched by HRH Crown Prince Mohammad bin Salman bin Abdulaziz Al Saud, Prime Minister, and Chairman of the Public Investment Fund (PIF).
HRH Crown Prince announced today the launch of @Ceer, the first Saudi electric vehicle brand.
The launch is in line with the #PIFstrategy 2021-2025 to unlock the capabilities of promising sectors locally.#DrivingTheFuture#PIF
Learn more: https://t.co/dyJ8eLmf0N pic.twitter.com/eWHG3HaV0D
— Public Investment Fund (@PIF_en) November 3, 2022
Ceer is the first Saudi brand to produce electric vehicles. It will design, manufacture, and sell sedans and SUVs aimed at the Saudi Arabian market and the MENA region. Ceer would also contribute towards Saudi Arabia’s efforts to combat climate change by promoting sustainability and reducing carbon emissions.
Approximately 30,000 direct and indirect jobs are expected to be created as a result of CEER. Saudi Arabia is also expected to benefit from a direct contribution of $8 billion to its GDP by 2034. The Ceer cars are scheduled to be available in 2025 and are designed and manufactured locally.
At the launch event, Crown Prince Mohammed bin Salman opens up on their new venture. “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,” he stated.
Using BMW component technology in the vehicle development process, the joint venture between PIF and Hon Hai Precision Industry will license component technology. The electrical architecture of the vehicles will be developed by Foxconn.
