Saudi Arabia wants a car industry, launches Ceer with two EVs
The new carmaker is a joint venture between the Saudi PIF and Foxconn.
KING ABDULLAH ECONOMIC CITY, Saudi Arabia—Saudi Arabia, historically without a domestic automobile manufacturer, is set to change that with the launch of Ceer. This joint venture between the Public Investment Fund and Foxconn marks the Kingdom’s first home-grown automaker. As part of Vision 2030, Saudi Arabia aims to diversify its economy beyond oil and foster technological innovation locally by the end of the decade.
Ceer, meaning "to drive forward" in Arabic, reflects the company's forward-looking approach. The flagship models, the Exobot sedan and SUV, showcase Ceer's capabilities and its vision for future vehicles. The company plans to expand its portfolio to seven new cars by 2030, some of which will be hybrids. Although current sales are limited to the Gulf Cooperation Council region, Ceer is confident in building a competitive, world-class product, potentially expanding beyond the GCC if demand warrants it.
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