Ceer Motors

Ceer Motors is an electric vehicle brand in Saudi Arabia. It is the first EV brand in Saudi and includes Sedans and Sports Utility Vehicles (SUV's) for the GCC region. Ceer Motors plans to distribute in Middle Eastern markets by 2025. The brand name Ceer, translates to the Arabic word for "drive forward".

History
Ceer Motors was formed through a partnership between the Saudi Public Investment Fund (PIF) and the Taiwanese contract manufacturer Foxconn. Saudi Arabia's sovereign wealth fund is projected to partner with Apple Inc. to build a $9 billion facility that manufactures microchips, electric-vehicle components and other electronics. The joint venture is part of an effort to diversify the Kingdom's economy apart from being oil-dependent, in line with the Saudi Vision 2030.

The company will license component technology from BMW to use in the electric vehicle development process. Foxconn will develop the electrical architecture of the products.

Investments
Ceer Motors is projected to contribute directly with over $150 million of foreign investment to the Kingdom and offer up to 30,000 direct and indirect job opportunities. By 2034, Ceer Motors is expected to contribute $8 billion to Saudi Arabia's GDP.