CEER Signs 16 MoUs worth SAR 3.7 billion at PIF Private Sector Forum 2026, Targeting 45% Saudi Localization by 2034

Saudi Arabia’s first electric vehicle (EV) brand and Original Equipment Manufacturer (OEM), announced a significant expansion of its domestic supply chain at the 4th PIF Private Sector Forum. The Saudi automotive company signed 16 commercial agreements valued at over SAR 3.7 billion, building on the SAR 5.5 billion of agreements announced at last year’s PSF. This latest wave of partnerships reinforces CEER's localization strategy, which targets sourcing 45% of vehicle materials and components from Saudi companies by 2034. It also establishes a robust and reliable supply chain to support CEER’s planned lineup of seven models over the next five years

These strategic collaborations ensure that essential components, ranging from advanced chemical compounds to heavy steel Body Shop equipment, will be produced or sourced within the Kingdom, supporting a sustainable and high-tech industrial base in Saudi Arabia. CEER’s localization strategy will secure long-term business for the local market, create jobs, and contribute to driving economic diversification and the growth of local industry, in line with Vision 2030 goals. Commenting on the partner agreements signed today at PSF, CEER CEO James DeLuca, said: “These agreements are a cornerstone of CEER's wide and deep localization strategy, which targets sourcing 45% of vehicle materials and components from Saudi companies by 2034. Our approach goes beyond mere assembly, we are utilizing local raw materials and empowering Saudi companies to become global suppliers, directly contributing to Vision 2030’s mission to diversify the national automotive industry and drive sustainable economic growth.”

DeLuca further emphasized the importance of these contracts, saying, “These agreements represent a major step in building a comprehensive automotive ecosystem in the Kingdom. By using local materials and resources, attracting advanced technology and foreign investment, and localizing the production of heavy and labor-intensive components, we aim to reduce CO2 emissions and create meaningful job opportunities for Saudi nationals.” The commercial contracts signed today include: Abdul Latif Jameel (ALJ) for windshield washer fluid, EV coolants, and forklift supply, Zamil Trade & Services and Zamil Plastics for brake fluids and aerodynamic access covers, FPI for front end modules, NSSPC for PP resin and polymer compounds, MK Tron to manufacture D-segment small stampings, Sika for chemical components including cavity baffles and structural adhesives, XYG for automotive glazing solutions, Mino to deliver and install steel body shop infrastructure, and FEV and AVL to offer specialized engineering services.

Further strengthening the local ecosystem, new MoUs were also reached with KK Nag for Expanded Polypropylene (EPP) and AITS for HVAC localization, both in collaboration with APICO Balubaid Group, HCMF and MK Tron to collaborate on window regulators and door hinges localized supply.
CEER is projected to contribute over SAR 30 billion to Saudi GDP by 2034, improve the trade balance by SAR 79 billion, and create approximately 30,000 direct and indirect jobs, underscoring its transformative impact on the national economy and contribution to the industrial diversification goals of Vision 2030.