Ceer — Saudi Arabia’s first electric vehicle brand — signed a land purchase agreement worth SAR 359m with Emaar, The Economic City, on Wednesday for land at King Abdullah Economic City (KAEC) that will be used to develop Ceer’s manufacturing facility for electric vehicles.
The site, which is located in Industrial Valley IV in close proximity to King Abdullah Port in KAEC will cover over one million sqm. Once complete, Ceer’s manufacturing facility will create thousands of direct and indirect high-skilled jobs, the majority of which will be filled by Saudi nationals. Construction at the site will begin early 2023.
The company — which is a joint venture between the Public Investment Fund (PIF) and Hon Hai Precision Industry Co. (Foxconn) — will manufacture a portfolio of technologically advanced sedans and sports utility vehicles at the factory in KAEC. Ceer vehicles are scheduled to be available from 2025 onwards.
The factory will be state-of-the-art, featuring the latest technologies to ensure manufacturing efficiency while minimising energy and water usage. Ceer will work towards making the factory a zero waste to landfill site.
Ceer’s CEO James DeLuca said: “We have found a place that meets all our needs. KAEC offers us a great location with world-class logistics, effective access for our global and Saudi-based suppliers, and an ideal location to base and develop our future workforce. KAEC will become our manufacturing hub as we work towards creating the first electric vehicle brand for Saudi Arabia and the wider region and, in doing so, contribute in a meaningful way to Saudi Arabia’s 2030 Vision.”
The establishment of Ceer comes in line with the PIF’s strategy to focus on unlocking the capabilities of promising sectors in Saudi Arabia, including the automotive sector, as well as creating opportunities for the growth and diversification of Saudi Arabia’s economy.
“We are delighted to welcome Ceer to KAEC and to help make history by building the first automotive manufacturing hub in Saudi Arabia and the wider region,” said Cyril Piaia — CEO of Emaar, The Economic City, the master developer of KAEC.
“KAEC is aiming to integrating into the 2030 Vision with the vision to be a global manufacturing centre, and we are spearheading the creation of an electric vehicle automotive industry that will be both innovation-focused and have sustainability at its heart. We cannot wait to see the cars of the first Saudi electric vehicle brand coming out of Ceer’s factory at KAEC in a couple of years’ time, and we are proud to be able to contribute to a project that supports so many facets of Saudi Arabia’s 2030 Vision,” he said.
“This agreement is in line with KAEC’s new strategy to welcome third-party anchor investors, developers, and operators to realise their projects and ambitions in the city and accelerate its development.”