Oil Giant Saudi Arabia Launches "Ceer" EV Brand

Saudi Arabia, an oil powerhouse and OPEC presidency, is gearing up for the launch of its EV brand Ceer.

Saudi Prime Minister and Crown Prince Mohammed bin Salman announced the plan on Thursday as the latest in a long list of initiatives supporting his "Vision 2030" plan aimed at reducing dependence on oil.

Saudi Arabia, through its sovereign wealth fund, the Public Investment Fund (PIF), is already the largest shareholder, owning more than 60% of US EV brand Lucid. Saudi Arabia is now seeking its own EV brand to support its industry and jobs. Other automotive initiatives in Saudi Arabia include the establishment of a Lucid car plant and battery factory in the country

and the establishment of a new Lucid car factory in the Kingdom of Saudi Arabia

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The PIF estimates that the Cair will create 30,000 jobs (direct and indirect) by 2034 and add $8 billion to Saudi Arabia's GDP. Both sedan and SUV models are planned, with the first model to be launched in 2025; Ceer will initially focus on Middle Eastern and North African markets, but plans to potentially expand to other markets, including the U.S.

. The new EV brand is a joint venture between PIF and Taiwanese contract manufacturer Foxconn. Foxconn, Apple's iPhone supplier, recently launched its own Foxtron EV brand, developed the Fisker project PEAR EV, and acquired GM's former Lordstown plant in Ohio to support ailing Lordstown Motors, The company plans to produce EVs for several brands on a contract basis.

Foxconn has been tasked with developing Ceer's electric architecture, including technologies related to infotainment, connectivity, and automated driving systems.

Ceer vehicles will also use technology licensed from BMW, but specifics have not been disclosed.

The launch of Ceer is also part of Saudi Arabia's broader sustainability efforts. Saudi Arabia's state-owned oil company Aramco is also working with Formula 1 to develop a 100% sustainable fuel that will be introduced into motorsports in 2026.