Ceer to Establish Electric Vehicle Manufacturing Site at King Abdullah Economic City
- Agreement is worth 359 million Saudi Riyals;
- Site location covers over 1 million square meters and will be the location for Ceer’s manufacturing facility;
- Ceer’s manufacturing facility will create thousands of direct and indirect high-skilled jobs, the majority for Saudi nationals, and will contribute to Saudi Vision 2030 through the transfer of knowledge and manufacturing localization.
Riyadh, Saudi Arabia, November 29 2022 – Ceer, Saudi Arabia’s first electric vehicle brand, has signed a land purchase agreement worth 359 million Saudi Riyals with Emaar, the Economic City, for land at King Abdullah Economic City (“KAEC”) that will be used to develop Ceer’s manufacturing facility for electric vehicles. The site, located in Industrial Valley (IV) in close proximity to King Abdullah Port in KAEC, will cover over 1 million square meters. Once complete, Ceer’s manufacturing facility will create thousands of direct and indirect high-skilled jobs, the majority of which will be filled by Saudi nationals. Construction at the site will begin early 2023.
The company, which is a joint venture between the Public Investment Fund (“PIF”) and Hon Hai Precision Industry Co. (“Foxconn”), will manufacture a portfolio of technologically advanced sedans and sports utility vehicles at the factory in KAEC. Ceer vehicles are scheduled to be available from 2025 onwards. The factory will be state-of-the-art, featuring the latest technologies to ensure manufacturing efficiency whilst minimizing energy and water usage. Ceer will work towards making the factory a zero waste to landfill site.
Ceer’s Chief Executive Officer, James DeLuca, said: “We have found a place that meets all our needs. KAEC offers us a great location with world-class logistics, effective access for our global and Saudi-based suppliers, and an ideal location to base and develop our future workforce. KAEC will become our manufacturing hub as we work towards creating the first electric vehicle brand for Saudi Arabia and the wider region and, in doing so, contribute in a meaningful way to Saudi Vision 2030.”
The establishment of Ceer comes in line with the PIF strategy to focus on unlocking the capabilities of promising sectors in Saudi Arabia, including the automotive sector, as well as creating opportunities for the growth and diversification of Saudi Arabia’s economy.
“We are delighted to welcome Ceer to KAEC and to help make history by building the first automotive manufacturing hub in Saudi Arabia and the wider region,” said Cyril Piaia, CEO of Emaar, The Economic City, the master developer of KAEC. “KAEC is aiming at integrating into Vision 2030 initiatives with the vision to be a global manufacturing center, and we are spearheading the creation of an electric vehicle automotive industry that will be both innovation-focused and have sustainability at its heart. We cannot wait to see the cars of the first Saudi electric vehicle brand coming out of Ceer’s factory at KAEC in a couple of years’ time, and we are proud to be able to contribute to a project that supports so many facets of Saudi Vision 2030. This agreement is in line with KAEC’s new strategy to welcome third-party anchor investors, developers, and operators to realize their projects and ambitions in the city and accelerate its development.”
The benefits of owning an electric car
Are you thinking of making the leap from your traditional gas-powered car to an electric car? Electric vehicle (EV) ownership has become mainstream and EVs offer owners substantial savings over time through lower maintenance and operational costs. When purchasing an EV, it’s not just the up-front purchasing costs you need to consider. EVs have far […]
Ceer steps up support for Saudi’s economy at the PIF Private Sector Forum
Ceer was out in full force at the first PIF Private Sector Forum to meet with the Kingdom’s businesses and discuss how they can work with the Kingdom’s first EV manufacturer to play a part in building the national automotive manufacturing sector. The forum encouraged opportunities for collaboration and investment partnerships between the private sector […]
Ceer launches Women’s Network to empower women in the automotive space
As part of its efforts to celebrate International Women’s Day, Ceer –the first Saudi electric vehicle brand – has launched an initiative that aims to both promote and support women working in the Kingdom’s automotive manufacturing industry. Named the “Ceer’s Women’s Network,” the initiative aims to empower women inside of Ceer by providing them with […]
The Numbers Behind Saudi’s Push for an EV Automotive Manufacturing Industry
As part of this behind-the-scenes look at the talented team making the Ceer vision a reality, we give the driving seat to Haytham Honjol, Head of Strategy and Initiatives. He helps us understand the basic ins and outs of pioneering a new automotive industry in the Kingdom. As the Head of Strategy for Ceer, the […]
People First: Building the Kingdom’s automotive sector
As the first Saudi electric vehicle brand, Ceer’s mission is twofold. The company will not only design, manufacture, and sell a wide range of vehicles for consumers in Saudi Arabia and the region, but it will also look to ignite and accelerate the creation of a national automotive industry in the country. People are the […]