Saudi Arabia launches its own electric car brand to reduce its dependence on oil

Saudi Arabia has launched its own electric vehicle brand, Ceer, with two initial models, a SUV and a futuristic-looking sedan, under its Exobot line. The brand is part of the country's efforts to develop its industrial sector and reduce its dependence on oil revenues, in line with its Saudi Vision 2030 goals. The vehicles will be manufactured at the Ceer Manufacturing Complex, the largest and most technologically advanced automotive production plant in the Middle East.

Ceer aims to contribute over $21 billion to Saudi Arabia's trade balance and $8 billion to its GDP by 2034, while creating quality jobs. The launch is a strategic move by the Public Investment Fund (PIF), Saudi Arabia's largest sovereign wealth fund, to support the development of a local automotive ecosystem.