The Saudi Arabian Public Investment Fund (PIF) has launched an electric vehicle start-up called Ceer, with plans to develop and produce a range of cars in the region.
A joint venture with Taiwanese electronics manufacturer Foxconn, Ceer plans to launch its first vehicle for the Middle East and North African market in 2025.
The company will licence technologies from BMW for development purposes, but Foxconn – which in September launched its first EV, the Luxgen n7 crossover – is tasked with developing Ceer’s electrical architecture.
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