Saudi Arabia Launches Ceer: The Kingdom's First Domestic EV Automaker

Saudi Arabia has officially entered the automotive manufacturing sector with the launch of Ceer, a joint venture between the country’s Public Investment Fund and electronics giant Foxconn. As part of the Kingdom’s Vision 2030 initiative, which aims to diversify the economy beyond oil, Ceer serves as the nation's first home-grown automaker. The company recently unveiled its flagship lineup, featuring an electric sedan and SUV, dubbed the Exobot series. Ceer plans to expand its portfolio to seven models by 2030, including hybrid options. While the company is currently focused on the Gulf Cooperation Council (GCC) market, executives have indicated that international expansion remains a possibility if global demand arises. By integrating Foxconn’s manufacturing expertise with local investment, Saudi Arabia aims to establish a competitive, world-class automotive industry that drives technological innovation within the region.