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Eye of Riyadh
Cars & Autos | Monday 11 March, 2024 9:39 am |
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Ceer to finalize EV factory in 2 years, eyes regional exports: CEO

Ceer will complete the construction of its electric vehicle (EV) factory within the next two years, with the launch of the designs and accessibility to the automotive market, CEO Mohammed Abuazzah told Al-Arabiya TV.

 

The manufacturing capacity of the factory will align with market requirements by 2030, depending on the number and types of EVs. The factory’s production capacity is expected to reach hundreds of thousands, Abuazzah explained, anticipating that the local content in Ceer vehicles will exceed 30% in the initial phase.

 

He added that the primary goal of the factory is to build a local Saudi industry. This includes enhancing local content and forming partnerships in various specialties, whether domestic or foreign. Ceer targets GCC countries, the CEO added, noting that the factory’s location on the Red Sea in a special economic zone enhances imports and exports to the Middle East.

 

He mentioned that the factory will be the first integrated industrial complex for the production of EVs, including all spare parts and components. The project will also contribute to offering several job and business opportunities. 

 

He underlined the cooperation with specialized international companies such as Foxconn, which specializes in the manufacturing of electricity-powered equipment. Foxconn holds a 5% in Ceer, while the Public Investment Fund (PIF) holds the remaining stake.

 

Abuazzah also highlighted the company's cooperation with Siemens in automating the product and the factory life cycle, noting that it looks forward to cooperation with the world's five largest suppliers.

 

In November 2022, Crown Prince Mohammed bin Salman announced the launch of Ceer, the first Saudi EV brand, according to data available with Argaam

 

Ceer recently awarded a project to develop its EV manufacturing facility for nearly SAR 5 billion in King Abdullah Economic City to Modern Building Leaders (MBL). 

Ceer EVs are scheduled for launch by 2025.

 

 


 

 

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