Saudi Arabia has signed two agreements with Ceer National Automotive Company to support the local production of the Kingdom’s first electric vehicles, with an estimated economic impact of $2.46 billion over the next decade.
The agreements were signed by the Local Content and Government Procurement Authority (LCGPA) under Saudi Arabia’s industrial localization program. They cover electric vehicles across sedan and SUV segments and support Ceer’s plans to design, engineer and manufacture vehicles locally.
Ceer’s vehicles will also be added to the Kingdom’s mandatory national products list, directing government procurement toward locally manufactured products. According to the authority, the move is intended to strengthen domestic supply chains, encourage technology transfer and build advanced manufacturing capabilities in line with Vision 2030.
The agreements are expected to create more than 2,600 jobs and contribute approximately $2.46 billion to Saudi Arabia’s GDP over 10 years. Ceer expects its operations to support nearly 30,000 jobs by 2034, including 6,500 direct and 23,500 indirect roles. The company is targeting 45% local content across its vehicles, while estimating a potential long-term GDP contribution of $8.02 billion.
The next test will be how quickly Ceer brings its locally designed vehicles to market and develops the supplier network needed to support production.
Source: Waya
