A US$8bn GDP contribution target by 2034 shows Ceer is positioned as an economic development project as much as an automotive brand
Saudi Arabia’s Crown Prince Mohammed bin Salman has unveiled the Exobot electric sedan and SUV as the flagship models of Ceer, a Public Investment Fund (PIF)-backed automotive brand launched in 2022 as the country’s first vehicle marque. Both models are locally designed, engineered, and manufactured, with Ceer planning a portfolio of seven vehicles over the next five years.
The Exobot sedan and SUV are the first models in a planned range that will include midsize and compact variants with various powertrain options to meet different customer needs. They will be produced at the Ceer Manufacturing Complex (CMC) in Saudi Arabia, which the company says is the biggest vehicle production facility in the Middle East.
Ceer Exobot electric car
Ceer projects its operations will contribute US$8bn (over SAR 30bn) to Saudi Arabia’s GDP and US$21bn (over SAR 80bn) to the country’s trade balance by 2034. PIF launched Ceer in 2022 to support the development of a domestic industrial ecosystem and attract private sector investment.
Marking the occasion, Crown Prince Mohammed bin Salman said: “The launch of CEER’s first vehicles represents another step forward in Saudi Arabia’s progression to build a sustainable and prosperous industrial ecosystem. It further enables the automotive sector as a key driver of economic growth, through attracting investments, empowering national talent, and expanding the private sector’s role to further position Saudi Arabia to become a leading regional and global hub for this industry.”
Source: Ceer