Saudi Arabia’s crown prince Mohammed bin Salman has launched the country’s first EV brand, Saudi news agency SPA said on Thursday. The new brand of EVs, Ceer, a JV between Saudi Public Investment Fund (PIF) and Hon Hai Precision (Foxconn) is expected to add $8 billion to the country’s GDP by 2034, and is expected to bring in $150 million in foreign direct investment.
Headquartered in Taiwan, Foxconn provides electronic manufacturing services for computers, communications, and consumer electronic products—it is the world’s…Crown Prince Mohammed bin Salman Launches Saudi Arabia's First EV Brand
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