In a significant move to advance Saudi Arabia’s automotive ambitions, CEER, the Kingdom’s first electric vehicle brand, has signed a Memorandum of Understanding (MoU) with FEV, a global leader in mobility engineering. The agreement, announced during the PIF Private Sector Forum in Riyadh, solidifies a strategic partnership aimed at accelerating CEER’s electric vehicle program and supporting the goals of Saudi Vision 2030.
The collaboration establishes a formal framework for cooperation in innovation, industrial development, and knowledge transfer. By combining FEV’s global engineering prowess with CEER’s local vision, the partnership is set to drive technological advancement and build a robust automotive ecosystem within the Kingdom.
A Strategic Alliance for Vision 2030
This MoU is a cornerstone of Saudi Arabia’s broader strategy to diversify its economy away from oil. The development of a local automotive industrial cluster is a key pillar of Vision 2030, and this partnership directly contributes to that objective by localizing expertise and fostering private-sector growth.
Mayank Agochiya, President of FEV Asia, commented on the alliance, stating, “This MoU marks a significant step in our commitment to fostering innovation and industrial growth in the Kingdom. 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. Together, we will develop advanced technologies, strengthen local capabilities, and contribute to a competitive and sustainable automotive ecosystem.”
Building a Competitive Supplier Ecosystem
A critical component of the agreement is the focus on building a competitive and localized supply chain. The partnership aims to create an environment that attracts and develops automotive suppliers in Saudi Arabia, reducing reliance on imports and creating long-term industrial value.
Johnny Saldanha, Chief Procurement and Supply Chain Officer at CEER, highlighted this aspect, saying, “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.”
CEER’s Path to Production
The announcement comes at a pivotal time for CEER as it moves closer to launching its first vehicles. The brand, a joint venture between the Public Investment Fund (PIF) and Hon Hai Precision Industry Co. (Foxconn), is gearing up for a major market reveal.
“2026 is the year of CEER,” declared Jim De Luca, CEO 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.”
About CEER
CEER is Saudi Arabia’s first electric vehicle (EV) brand and original equipment manufacturer (OEM), established to design, manufacture and sell a range of aspirational battery electric sedans and sports utility vehicles for customers in the Kingdom and the wider Gulf region. A joint venture between the Public Investment Fund (PIF) and Hon Hai Precision Industry Co.
(Foxconn), CEER combines global engineering expertise with a commitment to local industrial development and innovation. Its launch supports economic diversification and job creation aligned with Saudi Arabia’s Vision 2030, while contributing to the growth of a competitive, sustainable mobility ecosystem.
About FEV
FEV is a globally leading engineering provider in the automotive industry and an internationally recognized leader of innovation across different sectors. The company has supplied solutions and strategy consulting to the world’s largest automotive OEMs and has supported customers through the entire transportation and mobility ecosystem. With over 6,100 employees at more than 45 locations globally, FEV applies its technological and strategic expertise to mobility, energy, and software to develop solutions for a sustainable future.
Source: Zawya
