Ceer, Saudi Arabia’s first electric vehicle (EV) brand and original equipment manufacturer (OEM), announced 11 new partnerships worth SAR5.5 billion (approximately $1.5 billion) on February 13, 2025, at the third Public Investment Fund (PIF) Public Sector Forum in Riyadh. Over 80 percent of these agreements are with Saudi companies, marking a significant step toward Ceer’s target of achieving 45 percent localization. These partnerships will supply Ceer with vehicle components and charging equipment, boosting the domestic automotive supply chain and supporting Saudi Vision 2030’s economic diversification goals.
Context and Background
Ceer was launched in 2022 as a joint venture between PIF and Taiwan’s Foxconn, aiming to design, manufacture, and sell EVs in Saudi Arabia and the wider Middle East. The company represents a cornerstone of the Kingdom’s strategy to build a competitive automotive industry, reduce reliance on oil, and create high-skilled jobs. The PIF Public Sector Forum serves as a platform for PIF-backed companies to announce partnerships and showcase progress toward localization targets.
Key Details
The SAR5.5 billion agreements cover a wide range of components, including batteries, electric drivetrains, chassis parts, interior systems, and charging infrastructure. Over 80 percent of the total value is allocated to Saudi-based firms, reinforcing Ceer’s commitment to nurturing local suppliers. Ceer CEO Jim DeLuca stated, “While we are bringing global expertise and world-class partners to Saudi Arabia, building a robust local ecosystem is even more critical. These partnerships are crucial not only for a thriving automotive industry but also for creating future jobs and driving economic growth in the Kingdom.” The agreements were signed in the presence of senior PIF officials and representatives from partner companies.
Implications and Impact
The partnerships are expected to accelerate the development of Saudi Arabia’s automotive component and EV charging infrastructure, creating a ripple effect across related industries such as logistics, manufacturing, and technology. By localizing supply chains, Ceer aims to reduce import dependency and enhance the Kingdom’s competitiveness in the global EV market. This also aligns with the broader regional trend of Gulf nations investing in electric mobility to diversify energy sources and reduce carbon emissions.
Vision 2030 Alignment
The agreements directly support Vision 2030 objectives of economic diversification, localization of key industries, and job creation for Saudi nationals. Ceer’s localization target of 45 percent and the substantial involvement of local suppliers underscore the Kingdom’s commitment to building a sustainable and self-reliant automotive sector. As Ceer progresses toward production, these partnerships lay the foundation for a thriving EV ecosystem that will contribute to Saudi Arabia’s long-term economic transformation and global leadership in clean energy mobility.
20 Questions
Q1. What is Ceer?
A1. Ceer is Saudi Arabia’s first electric vehicle brand and original equipment manufacturer, established as a joint venture between the Public Investment Fund and Foxconn to design and produce EVs locally.
Q2. How much are the new partnerships worth?
A2. Ceer announced 11 new partnerships worth SAR5.5 billion, approximately $1.5 billion, at the PIF Public Sector Forum.
Q3. What percentage of the agreements are with Saudi companies?
A3. Over 80 percent of the agreements are with Saudi companies, emphasizing Ceer’s commitment to localization.
Q4. What is Ceer’s localization target?
A4. Ceer aims to achieve 45 percent localization, meaning nearly half of its vehicle components will be sourced from within the Kingdom.
Q5. When and where were the agreements announced?
A5. The agreements were announced on February 13, 2025, at the third Public Investment Fund Public Sector Forum held in Riyadh.
Q6. What will the agreements supply to Ceer?
A6. The agreements will supply Ceer with vehicle components and charging equipment, including batteries, drivetrains, chassis parts, interior systems, and charging infrastructure.
Q7. Who is the CEO of Ceer?
A7. The CEO of Ceer is Jim DeLuca, who emphasized the importance of local partnerships for building a robust ecosystem.
Q8. What did Jim DeLuca say about local partnerships?
A8. He stated that building a robust local ecosystem is critical for thriving automotive industry, future jobs, and economic growth in the Kingdom.
Q9. How do these partnerships support Saudi Vision 2030?
A9. They support Vision 2030 by diversifying the economy, localizing key industries, reducing oil dependency, and creating high-skilled jobs for Saudis.
Q10. Who oversees Ceer as an investor?
A10. Ceer is backed by the Public Investment Fund, Saudi Arabia’s sovereign wealth fund, which invests in strategic sectors to drive economic transformation.
Q11. What is the role of Foxconn in Ceer?
A11. Foxconn is a joint venture partner providing global expertise in electronics and manufacturing to support Ceer’s EV production.
Q12. How many partnerships did Ceer announce in total?
A12. Ceer announced a total of 11 new partnerships at the forum.
Q13. What is the purpose of the PIF Public Sector Forum?
A13. The forum serves as a platform for PIF-backed companies to announce initiatives, showcase progress, and foster collaboration among public and private sectors.
Q14. How will these partnerships affect the Saudi automotive sector?
A14. They will significantly boost the automotive sector by building a local supply chain, reducing imports, and fostering a sustainable industry.
Q15. What components are included in the agreements?
A15. The components include batteries, electric drivetrains, chassis parts, interior systems, and charging equipment.
Q16. Are these partnerships expected to create jobs?
A16. Yes, by involving local suppliers and building a robust ecosystem, the partnerships are expected to create high-skilled jobs for Saudi nationals.
Q17. What is Ceer’s production timeline?
A17. Ceer aims to begin production of electric vehicles in the coming years, with these partnerships preparing the supply chain.
Q18. How does this initiative align with global EV trends?
A18. It aligns with the global shift toward electric mobility and helps Saudi Arabia reduce carbon emissions while diversifying energy sources.
Q19. What other PIF-backed companies are involved in EVs?
A19. PIF has also invested in Lucid Motors and other EV-related ventures to build a comprehensive electric vehicle ecosystem in the Kingdom.
Q20. Where can readers find more official information?
A20. Official information can be found through the Saudi Press Agency (SPA) and Ceer’s official announcements, which serve as primary sources for this article.
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