The Ministry of Industry and Mineral Resources has granted license to Ceer, the first Saudi electric vehicle brand, to build its manufacturing facility over one million square meters 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 aegis of Crown Prince and Prime Minister Mohammed Bin Salman. The Ministry of Industry and Mineral Resources Spokesperson Jarrah Bin Mohammed Al-Jarrah emphasized the strategic significance of the automotive industry in the Kingdom's overall industrial strategy. He added that with the global light vehicles market expected to double in the next decade, the automotive sector presents a compelling regional opportunity. Al-Jarrah also stressed that the automotive manufacturing industry will serve as a catalyst for other priority sectors, such as minerals and chemicals. It 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 indirectly benefit the economy and the local industry in several ways, including through knowledge transfer, industry localization, development of local content, and creation of job opportunities for Saudi citizens. Ceer is the first Saudi automotive brand to produce electric vehicles in Saudi Arabia; it will design, manufacture and sell a range of vehicles for consumers in Saudi Arabia and MENA region, including sedans and SUVs. Ceer's vehicles 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 while minimizing energy and water usage. Ceer is expected to attract over SR562 million worth of foreign direct investment and create up to 30,000 direct and indirect jobs. It is projected to directly contribute SAR30 billion to Saudi Arabia's GDP by 2034. — SPA
