Posted by : Aahil Shaik Thursday, November 3, 2022

Saudi Crown Prince launches "CEER", the First Saudi brand for manufacture of Electric cars

Saudi Crown Prince, Prime Minister and Chairman of the Board of Directors of the Public Investment Fund, Prince Mohammed bin Salman announced the launch of "Ceer", the first Saudi brand for the manufacture of electric cars in the Kingdom of Saudi Arabia. Follow Saudi Expatriates on Google News

The launch of "Ceer" company comes in line with the Public Investment Fund's strategy that focuses on launching and allowing promising sectors to diversify the sources of Saudi economy as per the objectives of Saudi Vision 2030, and in line with the Kingdom's goals in reducing carbon emissions and preserving the environment in order to promote sustainable development. Read : Implementation of the project to charge electric cars on Madina roads

- Saudi Crown Prince stated that, "The launch of the 'Ceer' company does not only aim to build a car brand in the Kingdom, but also supports the empowerment of multiple strategic sectors to support the development of the national industrial system, and contribute to attracting local and international investments, which will create more opportunities of work for local competencies and provide new opportunities to private sector, which will contribute in increasing the Kingdom's GDP over the next decade, in order to achieve the strategy of the Public Investment Fund (PIF) to contribute to advancing economic growth in line with Saudi Vision 2030".

- It is expected that "Ceer" will attract foreign direct investments worth 562 million riyals to support the national economy and its direct contribution to the gross domestic product will reach 30 billion riyals, while providing 30,000 jobs directly and indirectly by 2034.

- Ceer to work within the strategy of the PIF, where the company will design, manufacture and sell electric cars equipped with advanced technology systems, like self-driving, in the Kingdom and the Middle East, including sedans and SUVs. Recommend : Saudi Arabia aims to manufacture 300,000 cars annually by the year 2030

- The company Ceer is a joint venture between the PIF and Foxconn where Ceer will get licenses for the technology of components related to electric cars from BMW to be used in the development of vehicles, while Foxconn will develop electric system for cars, which will be completely designed and manufactured in Saudi Arabia, and the cars will be subject to quality inspection as per the highest international standards and it is scheduled that the cars of Ceer company will be available for sale during the year 2025.

- Foxconn Chairman Yong Liu highlighted the importance of this partnership, stating, I am very pleased with this partnership with the PIF to create a new car company focused on designing and manufacturing electric cars in Saudi Arabia. We will invest our expertise in Foxconn to support Ceer in manufacturing electric cars are distinguished in their technical systems, like self-driving system and we aim to promote the concept of electric cars and increase the number of their users and this is what Ceer will do in the Kingdom and the region as a whole. See Also : Saudi Arabia signs agreement with Lucid company to purchase about 100,000 electric cars

Saudi Crown Prince launches CEER, the First Saudi brand for manufacture of Electric cars -

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