Saudi Arabia’s first EV brand, Ceer, has signed a land purchase agreement worth SAR 359 million ($95 million) with Emaar, the Economic City, for land at King Abdullah Economic City (“KAEC”) that will be used to establish Ceer’s manufacturing facility for EVs, according to Zawya.
Located in Industrial Valley (IV) close to King Abdullah Port in KAEC, the site will cover over 1 million square meters.
When complete, Ceer’s manufacturing facility will open thousands of jobs, and Saudi nationals will fill the majority. Construction at the site will start early next year.
Portfolio of advanced sedans and SUVs manufactured at KAEC
The company, a joint venture between the Public Investment Fund (PIF) and Hon Hai Precision Industry Co. (Foxconn), will manufacture a technologically advanced portfolio of sedans and SUVs at the KAEC factory.
“We are delighted to welcome Ceer to KAEC and to help make history by building the first Saudi automotive manufacturing hub in Saudi Arabia and the wider region,” said Cyril Piaia, CEO of Emaar, The Economic City, the master developer of KAEC.
“KAEC is aiming at integrating into Vision 2030 initiatives with the vision to be a global manufacturing center, and we are spearheading the creation of an electric vehicle automotive industry that will be both innovation-focused and have sustainability at its heart.”
Ceer vehicles to be available from 2025
Ceer vehicles are scheduled to be available from 2025 onwards. The factory will be state-of-the-art, showcasing the latest technologies to ensure manufacturing efficiency while minimizing energy and water usage.
In addition, the automaker will work towards making the factory a zero-waste-to-landfill site.
“We have found a place that meets all our needs. KAEC offers us a great location with world-class logistics, effective access for our global and Saudi-based suppliers, and an ideal location to base and develop our future workforce.” said Ceer’s Chief Executive Officer, James DeLuca.
“KAEC will become our manufacturing hub as we work towards creating the first electric vehicle brand for Saudi Arabia and the wider region and, in doing so, contribute in a meaningful way to Saudi Vision 2030.”
The establishment of Ceer comes in with the PIF strategy to focus on unlocking the capabilities of promising sectors in Saudi Arabia, which includes the automotive sector and creating opportunities for the diversification and growth of Saudi Arabia’s economy.
“We cannot wait to see the cars of the first Saudi electric vehicle brand coming out of Ceer’s factory at KAEC in a couple of years’ time, and we are proud to be able to contribute to a project that supports so many facets of Saudi Vision 2030.” says Piaia.
“This agreement is in line with KAEC’s new strategy to welcome third-party anchor investors, developers, and operators to realize their projects and ambitions in the city and accelerate its development.”
