Saudi Arabia on path to develop a competitive domestic automotive industry
Saudi Crown Prince and Prime Minister Mohammed bin Salman bin
Abdulaziz Al Saud has unveiled CEER’s
flagship electric vehicles, marking a major milestone in the Kingdom’s efforts
to develop a competitive domestic automotive industry and strengthen its
position in the global market.
The vehicles, known as EXOBOT, comprise an electric sedan
and SUV designed, engineered and manufactured in Saudi Arabia. The models
combine locally developed design with advanced technology and performance
features and form part of CEER’s broader vehicle portfolio planned for launch
over the next five years.
The unveiling supports Saudi Arabia’s industrial development
objectives under Saudi Vision 2030, which seeks to diversify the Kingdom’s
economy, expand advanced manufacturing and increase the contribution of non-oil
sectors.
Commenting on the launch, Crown Prince Mohammed bin Salman said
CEER’s first vehicles represent another step in developing a sustainable
industrial ecosystem in Saudi Arabia. He said the automotive sector can
contribute to economic growth by attracting investment, developing national
talent and expanding the private sector’s role in the industry.
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The EXOBOT sedan and SUV are among seven planned CEER models,
with the future lineup expected to include midsize and compact vehicles
featuring different propulsion technologies to meet a range of customer
requirements.
Production is planned at the CEER Manufacturing Complex
(CMC), described by the company as the largest automotive production facility
in the Middle East and among the world’s most technologically advanced
automotive manufacturing sites.
CEER said the EXOBOT vehicles feature design elements inspired
by Saudi Arabia’s landscape and cultural heritage. The vehicles were designed
and engineered locally while being developed to meet international automotive
standards.
The company is also expected to play a role in developing Saudi
Arabia’s broader automotive supply chain and manufacturing ecosystem. By 2034,
CEER projects that it could contribute approximately $8 billion (more than
SAR 30 billion) to Saudi Arabia’s gross domestic product, improve the trade
balance by $21 billion (more than SAR 80 billion) and support the
creation of direct and indirect jobs.
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CEER was launched by the Public Investment Fund (PIF) in
2022 as Saudi Arabia’s first automotive brand. The initiative forms part
of PIF’s broader efforts to establish an integrated domestic automotive
ecosystem, attract investment, create opportunities for private-sector
participation and support the Kingdom’s economic diversification agenda.
The launch of EXOBOT marks the latest development in Saudi
Arabia’s efforts to establish domestic capabilities across vehicle design, engineering
and manufacturing while building a larger role for the Kingdom within the
international automotive industry.
Source:
The Malaysian Reserve
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