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Saudi Arabia has taken a major step toward building a globally competitive electric vehicle (EV) industry with the signing of 16 new commercial agreements exceeding SAR 3.7 billion, aimed at localizing electric vehicle manufacturing within the Kingdom. The agreements were announced by CEER, Saudi Arabia’s first electric vehicle brand and original equipment manufacturer, during the fourth edition of the Public Investment Fund (PIF) Private Sector Forum held in Riyadh.
This expansion builds on SAR 5.5 billion worth of agreements signed during the same forum last year, marking CEER’s transition from strategic planning to active execution of its supply chain localization agenda. The initiative supports Saudi Arabia’s long-term vision to strengthen domestic industrial value chains and enhance readiness for a sustainable and advanced automotive manufacturing sector under Saudi Vision 2030.
CEER Chief Executive Officer James DeLuca stated that these agreements form a core pillar of the company’s localization strategy, which targets localizing 45% of vehicle materials and components by 2034. The strategy emphasizes the use of local raw materials and enables Saudi companies to become global suppliers, contributing to industrial diversification and sustainable economic growth.
The agreements include direct commercial contracts with local partners for the supply and localization of key automotive components such as electric vehicle coolants, brake fluids, windshield washer fluids, polypropylene resins, polymer compounds, front-end vehicle modules, aerodynamic access covers, and the execution of body shop infrastructure. Additionally, new memoranda of understanding were signed to localize HVAC systems, window regulators, door hinges, and expanded polypropylene production.
These strategic partnerships will support the manufacturing of seven planned CEER vehicle models over the next five years, while contributing to reduced carbon emissions and the creation of high-value employment opportunities for Saudi nationals. CEER is expected to contribute over SAR 30 billion to GDP by 2034, improve the overall economy by approximately SAR 79 billion, and generate around 30,000 direct and indirect jobs.
J K Management Consultancies supports international manufacturers, automotive suppliers, and investors seeking to participate in Saudi Arabia’s fast-growing EV and industrial sectors. With services covering company formation, industrial licensing, investor advisory, supply-chain localization support, and Vision 2030 compliance, J K enables businesses to enter and scale confidently within the Kingdom’s evolving industrial ecosystem.
