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Saudi PIF Leads Integrated Effort to Build National Car Sector

Saudi PIF launched Saudi Arabia’s first electric car brand, “CEER,” in November 2022. (PIF)
Saudi PIF launched Saudi Arabia’s first electric car brand, “CEER,” in November 2022. (PIF)
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Saudi PIF Leads Integrated Effort to Build National Car Sector

Saudi PIF launched Saudi Arabia’s first electric car brand, “CEER,” in November 2022. (PIF)
Saudi PIF launched Saudi Arabia’s first electric car brand, “CEER,” in November 2022. (PIF)

Saudi Arabia’s Public Investment Fund (PIF) is making big moves to kickstart the Kingdom’s own car industry.

It launched Saudi Arabia’s first electric car brand, “CEER,” in November 2022 and is backing the National Automotive and Mobility Academy (NAFAM) while investing heavily in the car and mobility sector.

In one of its reports, PIF emphasized how this sector can create jobs, boost the economy beyond oil, and fill skill gaps regionally. The fund also aims to create opportunities for private businesses and push forward research and development.

Following Saudi Arabia’s national transformation plan, Vision 2030, the Kingdom’s investments are driving economic growth and diversification.

PIF’s investment in the US electric vehicle company, Lucid, is a prime example. Lucid opened its first electric car factory in Saudi Arabia in September 2023, coinciding with CEER’s launch.

CEER recently announced a major deal worth about $1.3 billion for a new industrial complex.

According to CEER CEO Jim DeLuca the complex will set new industry standards both locally and globally. It will feature top-notch technologies, equipment, and staff, backed by partnerships with leading industry players like Durr, Schuler, and Siemens.

Mohammed Al-Shiha, who heads the Automotive and Mobility Sector at the Middle East and North Africa division of the fund, underscores their focus on future-ready tech. For cars, this means prioritizing electric and hydrogen vehicles for a greener future.

He noted that Saudi Arabia has laid a strong foundation for its car industry and is now shifting towards building its own suppliers. Examples include partnering with global giant Pirelli for top-notch tires and teaming up with Hyundai Motor to set up an advanced car plant.

Alongside global brands, the fund is launching a joint venture with the Saudi Electricity Company to establish “Electric Vehicle Infrastructure Company.” Their aim is to provide fast charging services across the Kingdom by 2030.

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Digital Marketing Emerges as Engine of Economic Efficiency

Digital Marketing Emerges as Engine of Economic Efficiency
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Digital Marketing Emerges as Engine of Economic Efficiency

Digital Marketing Emerges as Engine of Economic Efficiency

In an era increasingly defined by data and rapid technological transformation, digital marketing has evolved from a simple promotional tool into a core driver of economic productivity. Experts say the discipline is reshaping business models by enabling precise targeting, reducing waste, and maximizing returns.

Financial and economic advisor Dr. Hussein Al-Attas told Asharq Al-Awsat that digital marketing is now an economic necessity rather than a luxury. “Digital transformation has become a key lever for productivity and return on investment,” he said, noting that analytics and artificial intelligence are redefining the rules of competition.

According to Al-Attas, the shift from broad-based marketing to highly personalized campaigns has allowed companies to forecast demand with greater accuracy, cut unnecessary costs, and accelerate sales cycles. He emphasized that this transformation offers smaller firms a chance to compete with major players by reaching their target audiences more efficiently and experimenting in new markets without heavy infrastructure spending.

“Today, the market value of a company is measured not just by its products but by the depth and quality of its data,” Al-Attas added, predicting that AI and predictive analytics will continue to revolutionize marketing by automating content, refining targeting, and driving higher returns. He also stressed the importance of respecting data ethics to build consumer trust and long-term growth.

Economic analyst Rowan bin Rabeean echoed these views, describing digital marketing as a true driver of productivity and economic expansion. She explained that the shift to real-time analytics has fundamentally changed supply and demand dynamics, as companies no longer rely on historical estimates but react to live market signals.

Bin Rabeean said that in today’s digital economy, smaller enterprises are finding unprecedented opportunities to expand their reach and enhance competitiveness. Affordable tools such as social media campaigns and search engine optimization allow them to reach customers more effectively than traditional channels ever could.

Looking ahead, she predicted that AI-powered marketing will help businesses anticipate customer needs before they are even expressed, driving smarter, faster decisions and elevating economic efficiency overall.

Bin Rabeean concluded that in this new landscape, those who own and understand data will hold the competitive advantage. However, she emphasized the growing imperative to protect consumer privacy alongside the rise of data-driven business models.