FEV and Ceer plan strategic partnership
FEV and Ceer are joining forces to accelerate technological development and strengthen the automotive and mobility ecosystem in Saudi Arabia. According to the German engineering specialist, the partnership aims to combine both companies’ expertise to foster innovation, build local capabilities and support the long-term development of the sector in the Kingdom.
The Memorandum of Understanding (MoU) was signed in February on the sidelines of the PIF Private Sector Forum in Riyadh. The event, organised by the Public Investment Fund (PIF), brought together representatives of both companies as well as officials from the Saudi Ministry of Investment.
Ceer was founded in 2022 by PIF and the Taiwanese contract manufacturer Foxconn as a battery-electric vehicle brand. Ceer’s vehicles will be based on Foxconn’s EV platforms—or those of its EV subsidiary, Foxtron—but will be produced in Saudi Arabia. The first models were initially announced for 2025 but are now expected to be unveiled this year.
At the time of its founding, Ceer also announced that it had licensed components from BMW. Just weeks after this announcement, Foxconn acquired a plot of land in Saudi Arabia for the planned EV production facility. Nearly two years later, in November 2024, Ceer entered into an agreement with Rimac to source powertrain units from the Croatian EV manufacturer and supplier.
Although Ceer has already secured a number of individual supply agreements, the planned collaboration with FEV is designed to go a step further. The partnership is intended to support the development of a competitive local supplier ecosystem and strengthen value creation within Saudi Arabia’s emerging automotive industry.
“Very special thanks to our suppliers, like FEV, who signed an MoU to partner with CEER to build a competitive supplier ecosystem which is a big enabler to develop the Automotive Industrial Cluster in Saudi Arabia as part of Vision 2030,” said Johnny Saldanha, Chief Procurement and Supply Chain Officer at Ceer. Vision 2030 is a comprehensive national strategy to diversify Saudi Arabia’s economy beyond the oil industry. Through this initiative, Saudi Arabia seeks to position itself as a ‘global hub for tourism, technology, and sustainable development.’
“By partnering with CEER, we will combine our global expertise in automotive engineering and electrification with our partner’s vision for Saudi Arabia’s electric mobility future,” said Mayank Agochiya, President of FEV Asia. “Together, we will develop advanced technologies, strengthen local capabilities, and contribute to a competitive and sustainable automotive ecosystem.”
Jim Deluca, CEO of Ceer, added: “2026 is the year of CEER. We will reveal our first flagship models, visionary design, breakthrough technology, exhilarating performance, built for this region. This moment is more than a reveal; it is the start of a new era.”
0 Comments