Top Qs
Timeline
Chat
Perspective
Ceer Motors
First electric vehicle manufactured in Saudi From Wikipedia, the free encyclopedia
Remove ads
Ceer Motors is an electric vehicle brand in Saudi Arabia.[1] It is the first EV brand in Saudi and includes Sedans and Sports Utility Vehicles (SUV's) for the GCC region.[2] Ceer Motors plans to distribute in Middle Eastern markets by 2025.[3][4][5] The brand name Ceer, translates to the Arabic word for "drive forward".[6]
Remove ads
History
Ceer Motors was formed through a partnership between the Saudi Public Investment Fund (PIF) and the Taiwanese contract manufacturer Foxconn.[7] Saudi Arabia's sovereign wealth fund is projected to partner with Apple Inc. to build a $9 billion facility that manufactures microchips, electric-vehicle components and other electronics.[8] The joint venture is part of an effort to diversify the Kingdom's economy apart from being oil-dependent, in line with the Saudi Vision 2030.[9][10][11]
The company will license component technology from BMW to use in the electric vehicle development process. Foxconn will develop the electrical architecture of the products.[12]
In June 2024, a contract worth $2.2 billion was signed between Ceer and Hyundai Transys, through which the Korean company will supply Ceer vehicles with the integrated electric vehicle drive system (EDS).[13]
Remove ads
Investments
Ceer Motors is projected to contribute directly with over $150 million of foreign investment to the Kingdom and offer up to 30,000 direct and indirect job opportunities.[14] By 2034, Ceer Motors is expected to contribute $8 billion to Saudi Arabia's GDP.[15]
See also
References
Wikiwand - on
Seamless Wikipedia browsing. On steroids.
Remove ads