Riyadh, Saudi Arabia, 23rd June 21, 2023: The Saudi Ministry of Industry and Mineral Resources has granted an industrial license to Ceer, the first Saudi electric vehicle brand. An industrial license is a key step for Ceer to build its manufacturing facility over one million m2 in King Abdullah Economic City’s Industrial Valley in Saudi Arabia.
A joint venture between the Public Investment Fund (PIF) and Foxconn, Ceer was launched last November under the patronage of His Royal Highness, Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister.
Jarrah bin Mohammed Al-Jarrah, the spokesperson for the Saudi Ministry of Industry and Mineral Resources, emphasized the strategic significance of the automotive industry within the context of the Kingdom’s national industrial strategy. With the global light vehicles market expected to double in the next decade, the automotive sector presents a compelling regional opportunity.
Al-Jarrah further highlighted that the automotive manufacturing industry will serve as a catalyst for other priority sectors such as minerals and chemicals. The development aligns with the Kingdom’s diversification goals and its ability to export to neighboring markets, contributing to the growth of the non-oil economy.
In addition to direct economic benefits, the development of a national automotive sector will also indirectly benefit the economy and the local industry in several ways, through knowledge transfer, industry localization, the development of local content, and the creation of high-quality job opportunities for Saudi citizens.
Ceer is the first Saudi automotive brand to produce electric vehicles in Saudi Arabia, and will design, manufacture and sell a range of vehicles for consumers in Saudi Arabia and the MENA region, including sedans and sports utility vehicles. Ceer’s vehicles will be manufactured in King Abdullah Economic City and will be tested to the highest global automotive quality control and safety standards. The brand’s electric vehicles are scheduled to be available in 2025. Ceer’s factory will be state-of-the-art, featuring the latest technologies to ensure manufacturing efficiency whilst minimizing energy and water usage.
Ceer will attract over 562 million Saudi Riyals of foreign direct investment and create up to 30,000 direct and indirect jobs. Ceer is projected to directly contribute 30 billion Saudi Riyals to Saudi Arabia’s GDP by 2034.
