Ceer Signs SAR 5.5 Billion Agreements, Over 80% with Saudi Companies to Supply Ceer with Vehicle Components and Charging Equipment
Ceer Signs SAR 5.5 Billion Agreements, Over 80% with Saudi Companies to Supply Ceer with Vehicle Components and Charging Equipment
Ceer, Saudi Arabia’s first electric vehicle (EV) brand and Original Equipment Manufacturer (OEM), today announced 11 new partnerships worth SAR 5.5 billion (approximately USD 1.5 billion) at the 3rd PIF Public Sector Forum. These agreements, a majority with Saudi companies, mark a significant milestone in Ceer’s commitment to achieving 45% localization targets and will contribute significantly to the Saudi automotive sector further stimulating the economy aligned with the aims of Saudi Arabia Vision 2030.
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Jim DeLuca, Ceer CEO, stressed the vital role of these local partnerships, stating, “While we’re bringing global expertise and world-class partners to Saudi Arabia,” DeLuca explained, “building a robust local ecosystem is even more critical. These partnerships are crucial not only for a thriving automotive industry, but also for creating future jobs and driving economic growth in the Kingdom. By working with local suppliers, we ensure access to high-quality components for Ceer vehicles while simultaneously fostering a sustainable automotive sector in Saudi Arabia.”
Ceer has established strategic partnerships with global industry leaders, including Foxconn, BMW, Siemens, RIMAC, Hyundai Transys, Sabelt, Schuler, and Dürr, and is also fostering a growing ecosystem at King Salman Automotive Cluster, with several tier 1 global suppliers localizing their operations with leading industry partners such as Lear, Forvia, Shinyoung, Benteler, JVIS and Pirelli.
Since its inception, Ceer has recognized the importance of localization in creating a robust supplier ecosystem. The company has established partnerships with 263 local companies that have been awarded business worth SAR 6.6 billion including Modern Building Leaders (MBL), Nahil Computer, Bupa Arabia, Atlas Industrial Equipment Co., Saudi Business Machines, and Liva Insurance.
Demonstrating the scale of Ceer’s plans for designing, engineering, manufacturing, and selling the first Saudi EVs together with its ambition to become a key player in the global EV market, the newly signed local partnerships will provide major components and accessories for Ceer vehicles, and enable key collaborations between global companies and existing Saudi industry leaders with decades of experience and a long legacy of contributing to the Kingdom’s industrial growth by forming strategic partnerships.
The MoUs signed today include: Zamil Central Air Conditioners Co. Ltd. to manufacture HVAC systems, Zamil Plastic Industrial Company for plastic injected parts, Obeikan Glass Company and Abdul Latif Jameel Enterprises (ALJ) for alloy wheels.
Ceer’s localization efforts with Saudi suppliers also include supply agreements with Saudi Company for Controls and Maintenance (Saudi Controls Ltd) who will deliver portable chargers for electric vehicles, Arabian Plastic Industrial Co. (APICO) for blow parts, Saudi Aluminum Casting Company (SAC) for aluminum casting and First Telecom Industries (FTI) for small stampings.
Ceer has also entered into an agreement with a global supplier, CTR to localize aluminum forged parts in Saudi Arabia.
“Ceer is at a pivotal moment in its journey to ignite the automotive industry, and we look forward to engaging in fruitful discussions and exploring further opportunities for partnership and collaboration with others who share our vision,” said Jim Deluca, Ceer CEO.
