Saudi Arabia launches Ceer EV brand in joint venture with Foxconn

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Saudi Arabia has launched Ceer, a new electric vehicle brand, as part of its ambitions to establish a domestic car manufacturing industry. The company is structured as a joint venture between Saudi Arabia's Public Investment Fund (PIF) and Taiwanese electronics giant Foxconn. Ceer has debuted with two electric vehicle models as its initial product lineup. The move reflects Saudi Arabia's broader push to diversify its economy beyond oil through large-scale industrial investments.

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