Ceer, Saudi Arabia's first electric vehicle (EV) brand and original equipment manufacturer (OEM), today announced 11 new partnerships worth SAR5.5 billion (approximately $1.5 billion) at the third Public Investment Fund (PIF) Public Sector Forum.
The majority of these agreements are with Saudi companies, marking a significant milestone in Ceer's commitment to achieving 45 percent localization targets.
These partnerships will contribute substantially to the Saudi automotive sector, further stimulating the economy in alignment with the goals of Saudi Vision 2030.
Ceer CEO Jim DeLuca emphasized the critical role of these local partnerships, stating, “While we are bringing global expertise and world-class partners to Saudi Arabia, 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.”