According to the official Saudi Press Agency, the business, known as Ceer, “will contribute to Saudi Arabia’s efforts towards carbon emissions reduction and promoting sustainability to address the impact of climate change.”
It is a collaboration with Foxconn, the largest employer in China’s private sector, which “will design the electrical architecture of the vehicles,” according to SPA.
In addition to sedans and sports utility vehicles, Ceer “will design, manufacture, and sell a range of vehicles for consumers in Saudi Arabia and the MENA region,” the company said, adding that it was anticipated to create “30,000 direct and indirect jobs.”
According to SPA, Ceer vehicles “are anticipated to be available in 2025.”
Saudi Arabia and US-based Lucid Motors, which is establishing a factory in the country, announced a contract in April to buy up to 100,000 electric vehicles over the following ten years.
Similar to the Lucid transaction, Ceer is supported by the Crown Prince of Saudi Arabia’s Vision 2030 reform goal, which focuses on quick economic diversification, and which is overseen by the Saudi sovereign w Prince Mohammed said on Thursday that Saudi Arabia was “not just building a new automotive brand; we are igniting a new industry and an ecosystem that attracts international and local investments creates job opportunities for local talent, enables the private sector, and contributes to increasing Saudi Arabia’s GDP over the next ten years.”
Environmental activists expressed skepticism when Saudi Arabia pledged to attain net zero carbon emissions by 2060 in advance of the COP26 climate change summit.Saudi officials have lately stressed the need for more investment in fossil fuels, arguing that focusing on climate change at the expense of energy security would exacerbate inflation and other economic woes.