Ceer inks SAR 5.5B agreements, over 80% with Saudi firms

Logo of Ceer

Ceer, Saudi Arabia’s first electric vehicle (EV) brand, announced 11 new partnerships worth SAR 5.5 billion (nearly $1.5 billion) at the 3rd PIF Private Sector Forum.

In a statement, Ceer said the majority of agreements were signed with Saudi companies, marking a significant milestone in Ceer’s commitment to achieving 45% localization targets. This will contribute significantly to the Saudi automotive sector further stimulating the economy aligned with the aims of Saudi Arabia Vision 2030.

The agreements signed include: Zamil Central Air Conditioners Co. Ltd. to manufacture HVAC systems, Zamil Plastic Industrial Company for plastic injected parts, Obeikan Glass Company and Abdul Latif Jameel Enterprises (ALJ) for alloy wheels.

Ceer’s localization efforts with Saudi suppliers also include supply agreements with Saudi Company for Controls and Maintenance (Saudi Controls Ltd) who will deliver portable chargers for electric vehicles, Arabian Plastic Industrial Co. (APICO) for blow parts, Saudi Aluminum Casting Company (SAC) for aluminum casting and First Telecom Industries (FTI) for small stampings.

Ceer has also entered into an agreement with a global supplier, CTR to localize aluminum forged parts in Saudi Arabia.

Jim DeLuca, Ceer CEO, said that Ceer not only focuses on bringing global expertise and world-class partners to Saudi Arabia, but also on 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. By working with local suppliers, we ensure access to high-quality components for Ceer vehicles while simultaneously fostering a sustainable automotive sector in Saudi Arabia, he added.

Ceer is at a pivotal moment in its journey, and looks forward to engaging in fruitful discussions and exploring further opportunities for partnership and collaboration with others who share our vision, the CEO concluded.