Riyadh: CEER, Saudi Arabia's first electric vehicle brand and original equipment manufacturer, announced the signing of 16 new commercial agreements exceeding SAR3.7 billion during its participation in the fourth edition of the Public Investment Fund (PIF) Private Sector Forum, held in Riyadh.
According to Saudi Press Agency, this expansion builds on agreements worth SAR5.5 billion announced during the same forum last year, reflecting CEER's transition from planning to active execution of its supply chain localization strategy. The move supports a long-term vision to strengthen domestic industrial value chains and enhance the Kingdom's readiness to establish a competitive electric vehicle manufacturing sector.
Chief Executive Officer of CEER James DeLuca stated that the agreements constitute a core pillar of the company's comprehensive localization strategy, which aims to localize 45% of vehicle materials and components by 2034. He explained that the strategy focuses on utilizing local raw materials and enabling Saudi companies to become global suppliers, contributing to the objectives of Saudi Vision 2030 in industrial and economic diversification through the development of a national automotive industry and sustainable economic growth.
He noted that the agreements represent a significant step toward building an integrated automotive ecosystem in the Kingdom by leveraging local resources, attracting advanced technologies and foreign investment, and localizing the manufacturing of large-scale and labor-intensive components. He added that these efforts will contribute to reducing carbon dioxide emissions and creating high-value employment opportunities for Saudi nationals.
As part of the practical implementation of CEER's localization strategy and the consolidation of its supplier ecosystem during the forum, direct commercial contracts were signed with local partners that had previously entered memoranda of understanding last year. The agreements cover the supply of windshield washer fluids, electric vehicle coolants, forklift equipment, brake fluids, aerodynamic access covers, front-end vehicle modules, polypropylene resins and polymer compounds, chemical components including cavity baffles and structural adhesives, as well as the execution and installation of body shop infrastructure.
In parallel, new memoranda of understanding were signed to localize expanded polypropylene production, heating, ventilation, and air conditioning systems, window regulators, and door hinge manufacturing.
These strategic partnerships will enable the production or sourcing of key components within the Kingdom, ranging from high-tech chemical compounds to heavy automotive body equipment, establishing a strong and reliable supply chain for CEER's planned fleet of seven vehicle models over the next five years. The initiative supports the development of a sustainable, high-tech industrial base in Saudi Arabia.
CEER is expected to contribute more than SAR30 billion to the Kingdom's gross domestic product by 2034, improve the overall economy by approximately SAR79 billion, and generate around 30,000 direct and indirect jobs, underscoring its role in advancing national economic growth and achieving the industrial diversification goals of Saudi Vision 2030.
