SABIC and Ceer sign MoU to explore electric vehicle collaboration

The Saudi Basic Industries Corporation (SABIC) signed a memorandum of understanding with Ceer in Riyadh today to explore opportunities for cooperation in the use of advanced materials and innovative solutions produced by SABIC in the design, development, and manufacturing of Ceer's electric vehicles.

The agreement aims to assess mutually beneficial business opportunities and define potential terms of cooperation between the two parties. It also establishes a framework for discussing the development and innovation of solutions and products by evaluating the use of advanced materials in certain applications for Ceer's vehicles.

Areas of cooperation include developing materials and processing solutions to meet manufacturing needs, as well as sharing information and expertise related to sustainability and technology to support Ceer's goals in engineering and product development.

The memorandum also seeks to explore strategic supply opportunities and build a local supply chain that meets global standards for the emerging electric vehicle sector in the Kingdom, in addition to identifying and pursuing further areas of joint cooperation as agreed by both parties.

SABIC CEO Faisal bin Mohammed Al-Faqeer stated that the memorandum represents a step toward strategic cooperation, leveraging SABIC's global expertise in advanced material solutions to support the electric vehicle industry. He emphasized the company's aim to accelerate innovation, enhance local content, and build an integrated national supply chain to boost the sector's global competitiveness.

Ceer CEO James DeLuca said that collaborating with SABIC is a pivotal step in the company's journey to design, engineer, and manufacture world-class electric vehicles in the Kingdom. He noted that integrating SABIC's advanced materials and technical expertise will help build a strong and reliable local supply chain.

SABIC's materials and solutions enable manufacturers to advance the electric vehicle industry and accelerate progress toward a sustainable, carbon-free future amid rapid changes in this promising sector.