Prime Highlights:

• Ceer is signing $990 million in commercial contracts, moving from planning to active execution in Saudi Arabia’s EV market.
• The company plans to boost the economy by SR30 billion and create 30,000 jobs by 2034, supporting local employment.

Key Facts:

• Ceer aims to achieve 45% local content by 2034, using local materials and attracting advanced technology and investment.
• The company is the first in Saudi Arabia to manage the full car-making process, from design to sales, offering electric sedans and SUVs for the region.

Background:

Saudi Arabia’s first homegrown electric vehicle (EV) brand, Ceer, is set to make a major business statement at the PIF Private Sector Forum, with plans to sign 16 agreements valued at SR3.7 billion ($990 million). CEO James DeLuca said that about 90% of the deals are actual commercial contracts, showing the company is moving from planning to action.

At the forum, DeLuca highlighted Ceer’s role in Saudi Arabia’s growing EV ecosystem and said that the company has turned nearly 90% of its agreements into real commercial contracts, moving from planning to action.

The company’s expansion aligns with Saudi Arabia’s broader goal of electrifying 30 percent of vehicles in Riyadh. This means using local materials, bringing in advanced technology, attracting foreign investment, and making parts in Saudi Arabia. This plan will also help reduce carbon emissions.

Ceer is the first car company in Saudi Arabia to handle the whole car-making process, from design and engineering to manufacturing, sales, and service. They will offer a range of electric sedans and SUVs for customers in the region.

CEO James DeLuca said, “We want to lead electric mobility, not just in Saudi Arabia, but across the Gulf. Together, we are about to start a new industry, inspire the nation, and impress the world.”

Ceer is set to grow in the Middle East’s EV market while supporting Saudi Arabia’s green economy goals.