PHOTO
Ceer, the Saudi Arabia electric vehicle (EV) brand and original equipment manufacturer (OEM), will develop a 5 billion riyals ($1.3 billion) manufacturing facility in the kingdom’s King Abdullah Economic City.
The contract for the Ceer Electric Vehicle Manufacturing Complex has been awarded to Saudi company Modern Building Leaders (MBL), which has been tasked to build a facility, spanning over one million square metres, and will have an area under roof of 530,000 square metres.
Ceer, a joint venture between Saudi’s sovereign-backed Public Investment Fund (PIF) and Taiwanese multinational electronics contract manufacturer, was launched in 2022 as part of the kingdom’s Vision 2030 masterplan to push for economic diversification, carbon emission reduction, and sustainable development.
(Writing by Bindu Rai, editing by Seban Scaria)
