Saudi crown prince launches Ceer, first Saudi electric vehicle brand
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
SAUDI Arabia’s crown prince Mohammed bin Salman has launched Ceer, the first Saudi electric vehicle brand, expected to be available in 2025, the state news agency (SPA) reported on Thursday (Nov 3).
Ceer will attract over US$150 million of foreign direct investment and is projected to directly contribute US$8 billion to the kingdom’s GDP by 2034, SPA added.
The company is a joint venture between Saudi Public Investment Fund (PIF) and Hon Hai Precision Industry (Foxconn), SPA said. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
