Saudi Arabia
Saudi Issues Ceer a Manufacturing Licence as It Targets $8 Billion GDP Push
Saudi Arabia’s first Saudi electric vehicle brand, Ceer, has been granted a licence to manufacture cars in the country.
It comes as Ceer is projected to directly contribute SR30bn ($8bn) to Saudi Arabia’s GDP by 2034.
Ceer is expected to attract more than SR562m ($150m) worth of foreign direct investment and create up to 30,000 direct and indirect jobs in the Kingdom.
The Saudi Ministry of Industry and Mineral Resources granted a licence to Ceer to build its manufacturing facility over one million square meters in King Abdullah Economic City’s Industrial Valley in Saudi Arabia.
