Saudi Arabia's Crown Prince Mohammed bin Salman has launched Ceer, the first Saudi electric vehicle brand, expected to be available in 2025.
Ceer will attract over $150 million of foreign direct investment and is projected to directly contribute $8 billion to the Kingdom's GDP by 2034, the state news agency SPA reported on Thursday.
It is also expected to create up to 30,000 direct and indirect jobs.
The company is a joint venture between Saudi Public Investment Fund (PIF) and Hon Hai Precision Industry Co. (Foxconn), SPA said.
HRH Crown Prince Launches #Ceer, the First Saudi Electric Vehicle Brand. https://t.co/nKl5GvYcdW#DrivingTheFuture#SPAGOV pic.twitter.com/cX3tlYumiM
— SPAENG (@Spa_Eng) November 3, 2022
Abu Dhabi partners with Boehringer Ingelheim to advance precision medicine
H.H. Sheikh Ahmed approves launch of business media platform
Saudi Aramco resumes oil loading at Ras Tanura after 4-month halt
Summer Davos ends with call to boost innovation and growth
ADNOC and partners to develop mega gas project
