Saudi Arabia is spending $9 billion to create its own EV brand
Published on Nov 08, 2022 at 10:22 AM (UTC+4)
by Alessandro Renesis
Last updated on Nov 08, 2022 at 10:22 AM (UTC+4)
Edited by
Alessandro Renesis
Saudi Arabia has joined forces with BMW and Foxconn to create the country’s first EV brand.
It’s called CEER and Saudi Arabia has so far vowed to allocate $9 billion to develop it.
But this is just the start.
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To produce the cars, Saudi Arabia has established a joint venture with Foxconn Technology Group – the company that manufacturers iPhones, among other things.
Foxconn will develop the infotainment system and the autonomous driving technology for the car.
Meanwhile, Saudi Arabia will license technology from BMW for automotive components.
Obviously, we vehicles will be electric and autonomous.
The HRH Crown Prince himself said this is more than just an automotive brand, it is a way to “ignite a new industry” and “attract investments”.
Saudi Arabia is currently in talks with Foxconn to establish a $9b multipurpose facility to manufacture components for its EV brand directly in the country.
The new car brand is part of the country’s ‘Vision 2030’ plan.
The ultimate goal is to cement Saudi Arabia’s reputation on a global scale when it comes to technology, infrastructure and innovation.
The incredible $500 billion project to create a horizontal mega-city in the desert is part of the same ambitious plan.
Saudi Arabia has already dabbled in the automotive industry.
Among other things, the country helped Giugiaro develop two concept cars and it has invested in Lucid Motors.
However, this would be a completely different ball game as the cars are going to be designed, developed and tested in the country.
So when can we expect the first electric vehicle made in Saudi Arabia to hit the market?
The first CEER concept car should be ready within the next 3-5 years.
The first production model will be unveiled shortly thereafter.
Alessandro is an automotive journalist with 10 years of experience covering supercars, automotive history, emerging vehicle technology, and luxury transportation. He wrote the first article published on SupercarBlondie.com when the website launched in 2022 and has since built a reputation for insightful reporting across the automotive and transportation industries. His expertise is grounded in hands-on experience. Alessandro has driven every Tesla model ever produced, from the original Roadster to the Cybertruck, and regularly covers the latest developments in electric vehicles and automotive innovation. His passion for transportation extends beyond cars, he has even flown a Boeing 787 Dreamliner simulator in Addis Ababa, Ethiopia. His reporting spans everything from classic American muscle cars and rare automotive discoveries to luxury yachts, private aircraft, high-end watches, and cutting-edge vehicle technology. Known for his deep knowledge of automotive history and ability to uncover the stories behind iconic vehicles, Alessandro brings readers a blend of historical context, technical expertise, and first-hand experience.
