Ceer, the First Saudi Electric Vehicle Brand, is Unveiled

The first ever Saudi electric vehicle brand, Ceer, has been unviled by His Royal Highness Crown Prince Mohammad bin Salman bin Abdulaziz, Prime Minister and Chairman of the Public Investment Fund (PIF). The brand is a joint venture between PIF and Foxconn, the world's biggest electronics supplier.

Ceer will design, manufacture and sell a range of vehicles for consumers in Saudi Arabia and the MENA region, including sedans and sports utility vehicles.

The company 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.

A part of PIF’s strategy to diversify Saudi Arabia’s GDP growth by investing in promising growth industries, Ceer will attract over 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.

His Royal Highness Crown Prince Mohammed bin Salman says: “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.”

Chairman of Hon Hai Technology Group, Young Liu, adds: “Foxconn is excited about our partnership with PIF to create a new automotive company that will focus on designing and manufacturing electric vehicles in and for Saudi Arabia. We will leverage Foxconn’s technological expertise to support Ceer’s vision of creating a range of iconic electric vehicles that are built around the themes of connectivity, infotainment and autonomy. We want to make electric vehicles mainstream, and that is what Ceer is going to achieve in Saudi Arabia and the wider region.”

Foxconn assumed manufacturing operations at its US facility in Ohio after completing a purchase agreement (“APA”) with Lordstown Motors Corp. in May 2022.

At present, the electric pickup truck production line in the facility has entered mass production, and the tractor vehicle production line is expected to begin in the first quarter of 2023.