Announced by His Royal Highness Crown Prince Mohammad bin Salman and the Public Investment Fund in 2022. Ceer is set to ignite a new industry and ecosystem that will provide exciting new vehicles, attract international and local investments, create local job opportunities, and contribute to the grow Contact online >>
Announced by His Royal Highness Crown Prince Mohammad bin Salman and the Public Investment Fund in 2022. Ceer is set to ignite a new industry and ecosystem that will provide exciting new vehicles, attract international and local investments, create local job opportunities, and contribute to the growth of Saudi Arabia''s GDP.
In partnership with Hon Hai Precision Industry Co. (Foxconn), Ceer will design, manufacture, and sell a range of electric vehicles for consumers in Saudi Arabia and the MENA region, and the vehicles will be tested to the highest global quality control and safety standards. Ceer will also lead the way in infotainment, connectivity, and autonomous driving technologies, thanks to Foxconn''s development of the electrical architecture of the vehicles and the use of component technology from BMW.
Saudi Arabia has unveiled its first electric car brand. It is called Ceer and is a joint venture between the Saudi sovereign wealth fund PIF (Public Investment Fund) and the Taiwanese contract manufacturer Foxconn. The latter will develop the electric platform for a range of Ceer models, including sedans and SUVs.
On the note of charging infrastructure, Ceer is considering several models, including taking a leaf out of Tesla’s Supercharger network strategy, which arguably covered one of the US’s biggest hurdles in EV adoption with range anxiety and charging opportunities.
On the other hand, Saudi Arabia sets economic targets for the brand: Ceer is expected to attract more than 150 million US dollars in foreign direct investment and create up to 30,000 direct and indirect jobs. The US electric car manufacturer Lucid Motors is also building a factory in Saudi Arabia that will be designed for an annual capacity of 150,000 electric cars. The government of Saudi Arabia will buy up to 100,000 Lucid electric cars over a ten-year period, according to an agreement signed in April 2022.
The Saudi sovereign wealth fund PIF focuses on developing promising sectors that can help diversify Saudi Arabia’s economy. The Saudi Arabian government is very keen on the automotive sector: even before the current brand launch and the investment in Lucid Motors, the PIF was already known in the industry – for example, as an investor in Tesla (although there was a quasi-exit in 2020) and more recently in Aston Martin.
For Foxconn, the joint venture with the PIF is another mainstay. Foxconn Chairman Young Liu describes it as a pleasure to create a new automotive company focused 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.”
Jay Ramey grew up around very strange European cars, and instead of seeking out something reliable and comfortable for his own personal use he has been drawn to the more adventurous side of the dependability spectrum. Despite being followed around by French cars for the past decade, he has somehow been able to avoid Citroën ownership, judging them too commonplace, and is currently looking at cars from the former Czechoslovakia. Jay has been with Autoweek since 2013.
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