The first-born of the young brand is planned to enter the market in 2025
Saudi Arabia has launched the country’s first electric vehicle brand, Ceer. It was launched jointly by the Saudi Arabian Sovereign Fund and Taiwanese Foxconn, which produces, among other things, iPhone and Xiaomi smartphones. Foxconn will develop a platform for the Ceed line, which will include sedans and crossovers. However, all electric cars will be built and tested exclusively in the Arab kingdom.
The creators of Ceed will focus on manufacturability: the cars will receive an advanced multimedia system, connected services and an autopilot. It is already known that BMW technologies are licensed for Arab electric cars, but which ones are still unknown. Information on production volumes is also not disclosed, but cars will be sold not only in Saudi Arabia: from 2025 they will begin to appear in the countries of the Middle East and North Africa.
According to the Crown Prince of Saudi Arabia, Mohammed bin Salman, the creation of Ceer is not just the launch of a new brand, but also the creation of an entire industry that is attractive to investors. The release of electric cars will contribute to the growth of the country’s GDP, employ people and help implement the plan to reduce carbon monoxide emissions, the prince added.
Ceer is expected to raise over $150 million and create up to 30,000 jobs. By 2034, the company’s profitability should reach eight billion dollars.
In the spring, the kingdom signed an agreement with the manufacturer of luxury electric cars Lucid Group from the United States to buy up to 100,000 Air sedans over 10 years. In addition, Lucid has already started building a plant in Saudi Arabia, designed for an annual capacity of 150,000 electric cars.