Today, Thursday, Saudi Crown Prince Mohammed bin Salman announced the launch of the "Seer" company, as the first local brand for the manufacture of electric cars.
The Saudi Press Agency said that the launch of the new brand comes within the framework of implementing Vision 2030, which aims to diversify sources of income and in line with the Kingdom's plans to reduce carbon.
Prince Mohammed bin Salman said that the new company "not only aims to build a new brand, but also to support the empowerment of strategic sectors to support the national industrial system."
The company also aims to attract local and international investments, which will enhance the creation of more jobs and provide more opportunities for the private sector
It is expected that "Seer" will attract foreign direct investments worth 562 million riyals (about 150 million dollars) to support the national economy, according to the Saudi Agency.
The company is also expected to contribute 30 billion riyals (about 10 billion dollars) to the Kingdom's GDP, in addition to creating 30,000 jobs.
This project represents a partnership between the Saudi Public Investment Fund and the Taiwanese technology company "Foxconn".
The company will design, manufacture and sell electric cars equipped with advanced technology systems such as self-driving in the Kingdom and the Middle East.
The manufacturing will include sedans and SUVs, and the cars will obtain licenses for component technology related to electric vehicles from BMW for use in vehicle development.
Foxconn will develop the electrical system for the cars, which will be designed and manufactured entirely within the Kingdom, and the cars will be subject to quality inspection according to the highest international standards.
Sir cars are scheduled to be available for sale in 2025.
Last April, the American newspaper, "The Wall Street Journal", said that "Foxconn" is in talks with Riyadh to build a $9 billion plant; For the production of semiconductors and components for electric vehicles and other electronics.
On October 19, the Saudi Minister of Communications and Information Technology, Abdullah bin Amer Al-Sawaha, said that the Kingdom will manufacture and export more than 150,000 electric cars in 2026.
In late May, the Lucid Electric Vehicle Company began building an advanced factory in the Kingdom, with a production capacity of 155,000 cars annually and with investments of more than 12.3 billion riyals ($3.2 billion).
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