Saudi Arabia to witness its 1st e-vehicle in 2025
The Saudi Industrial Development Fund (SIDF) CEO Ibrahim Almojel has confirmed that the year of 2025 will witness the appearance of the first Saudi electric vehicle, with production reaching 150,000 cars annually.
Almojel’s confirmation came during an interview with Rotana Khalejeyah, where he stressed that Saudi Arabia has the ability to achieve this from the support that is provided by the government and private sectors to activate this industry. He praised the automotive industry in the Kingdom.
He also clarified the differences between Lucid and Ceer, noting that the American Lucid is focusing more on the luxury cars segment. It will also focus on exports of specific cars to reach the European and local markets.
The focus will be on high-capacity cars, and those characterized by high speed, as well as those with longer battery life.
The Saudi Ceer will focus more on the daily and most used vehicle, Almojel said, noting that Ceer will become an integrated company not specialized in a specific kind. Details will be provided in the future.
As for SIDF and the industrial finance sector in Saudi Arabia, Almojel indicated that they will finance any factory inside the Kingdom, even if it is owned by a foreigner, but on the condition that the foreigner provides an added value to the country.
