|
Listen to this story:
|
- Over 80% of SAR 5.5B agreements signed with Saudi companies to strengthen the local automotive supply chain.
- Strategic partnerships with global and local firms drive Saudi Arabia’s electric vehicle (EV) sector forward.
- Supports Vision 2030 goals by fostering economic diversification and job creation.
Ceer, Saudi Arabia’s first electric vehicle (EV) brand and Original Equipment Manufacturer (OEM), announced 11 new partnerships worth SAR 5.5 billion (USD 1.5 billion) at the 3rd PIF Public Sector Forum. Over 80% of these deals are with Saudi companies, advancing Ceer’s goal of 45% localization and strengthening the Kingdom’s automotive ecosystem.
CEO Jim DeLuca emphasized the importance of local partnerships, stating: “While we’re bringing global expertise and world-class partners to Saudi Arabia, building a robust local ecosystem is even more critical. These partnerships are crucial not only for a thriving automotive industry but also for creating future jobs and driving economic growth in the Kingdom.”
Global & Local Collaborations
Ceer has partnered with major international firms including Foxconn, BMW, Siemens, RIMAC, Hyundai Transys, Sabelt, Schuler, and Dürr. It is also expanding operations at the King Salman Automotive Cluster, working with tier 1 suppliers like Lear, Forvia, Shinyoung, Benteler, JVIS, and Pirelli.
Related Article: AI-Powered Grocery and Recipe Delivery Service, Hungryroot, Announces 67% Revenue Growth
Since its launch, Ceer has awarded SAR 6.6 billion in contracts to 263 local businesses, including Modern Building Leaders (MBL), Nahil Computer, Bupa Arabia, Atlas Industrial Equipment Co., Saudi Business Machines, and Liva Insurance.
Key Supply Agreements
Newly signed deals include:
- Zamil Central Air Conditioners Co. Ltd. – HVAC systems.
- Zamil Plastic Industrial Company – Plastic injected parts.
- Obeikan Glass Company & Abdul Latif Jameel Enterprises (ALJ) – Alloy wheels.
- Saudi Controls Ltd. – Portable EV chargers.
- Arabian Plastic Industrial Co. (APICO) – Blow parts.
- Saudi Aluminum Casting Company (SAC) – Aluminum casting.
- First Telecom Industries (FTI) – Small stampings.
- CTR – Localizing aluminum forged parts in Saudi Arabia.
DeLuca concluded: “Ceer is at a pivotal moment in its journey to ignite the automotive industry. We look forward to engaging in further collaborations with those who share our vision.”
Follow ESG News on LinkedIn