 Logo | |
Native name | سير |
|---|---|
| Company type | Private |
| Industry | Automotive |
| Founded | 2 November 2022 |
| Founder | |
| Owner | Public Investment Fund |
| Website | ceermotors |
Ceer Motors is an electric vehicle brand in Saudi Arabia. [1] It is the first EV brand in Saudi and includes Sedans and Sports Utility Vehicles (SUV's) for the GCC region. [2] Ceer Motors plans to distribute in Middle Eastern markets by 2025. [3] [4] [5] The brand name Ceer, translates to the Arabic word for "drive forward". [6]
Ceer Motors was formed through a partnership between the Saudi Public Investment Fund (PIF) and the Taiwanese contract manufacturer Foxconn. [7] Saudi Arabia's sovereign wealth fund is projected to partner with Apple Inc. to build a $9 billion facility that manufactures microchips, electric-vehicle components and other electronics. [8] The joint venture is part of an effort to diversify the Kingdom's economy apart from being oil-dependent, in line with the Saudi Vision 2030. [9] [10] [11]
The company will license component technology from BMW to use in the electric vehicle development process. Foxconn will develop the electrical architecture of the products. [12]
Ceer Motors is projected to contribute directly with over $150 million of foreign investment to the Kingdom and offer up to 30,000 direct and indirect job opportunities. [13] By 2034, Ceer Motors is expected to contribute $8 billion to Saudi Arabia's GDP. [14]
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