Saudi: Ceer to set up EV manufacturing site at King Abdullah Economic City
Ceer, Saudi Arabia’s first electric vehicle brand, has signed a land purchase agreement worth 359 million Saudi Riyals with Emaar, the Economic City, for land at King Abdullah Economic City (“KAEC”) that will be used to develop Ceer’s manufacturing facility for electric vehicles.
The site, located in Industrial Valley (IV) in close proximity to King Abdullah Port in KAEC, will cover over 1 million square meters.
Once complete, Ceer’s manufacturing facility will create thousands of direct and indirect high-skilled jobs, the majority of which will be filled by Saudi nationals. construction at the site will begin early 2023.
The company, which is a joint venture between the Public Investment Fund (“PIF”) and Hon Hai Precision Industry Co. (“Foxconn”), will manufacture a portfolio of technologically advanced sedans and sports utility vehicles at the factory in KAEC. Ceer vehicles are scheduled to be available from 2025 onwards.
The factory will be state-of-the-art, featuring the latest technologies to ensure manufacturing efficiency whilst minimizing energy and water usage. Ceer will work towards making the factory a zero waste to landfill site.
