Saudi EV brand Ceer signs $986 million of deals to localise manufacturing

Foxconn Technology

09/02/2026 15:45

CAIRO, Feb 9 (Reuters) - Saudi electric vehicle brand Ceer has signed 16 deals worth a combined 3.7 billion riyals ($986.6 million) to localise EV manufacturing in the Gulf country, Saudi state news agency SPA reported on Monday without disclosing any further detail.

Ceer is a joint venture between Saudi's sovereign wealth fund and Foxconn 2354.TW.

($1 = 3.7502 riyals)

 (Reporting by Menna Alaa El-Din and Jaidaa Taha
Editing by David Goodman
)

 ((Menna.AlaaElDin@thomsonreuters.com;))