Saudi Arabia’s Ceer Motors, backed by the Public Investment Fund and launched publicly by Crown Prince Mohammed bin Salman, has unveiled its first two electric models: the Exobot sedan and SUV. Built at the Ceer Manufacturing Complex in King Abdullah Economic City, these vehicles kick off a planned seven-model lineup to arrive over the next five years, spanning midsize and compact segments and multiple propulsion options. No pricing or sales launch timetable was disclosed, but the debut follows earlier production targets and signals a move from development into serial manufacturing.
The company is a joint venture between PIF and Foxconn with BMW supplying component technology and a major drive-systems contract signed with Hyundai Transys. Ceer has already secured commercial deals worth more than SAR3.7 billion and aims to localize 45% of parts and materials by 2034. Forecasts project Ceer will add over SAR30 billion ($8 billion) to GDP and improve the trade balance by more than SAR80 billion by 2034. The launch aligns with broader sovereign-fund-backed EV ambitions in Saudi Arabia, including plans for Lucid to expand full-scale vehicle production domestically following significant PIF investments.
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