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Saudi ‘Ceer’ to Unveil First Electric Car Models by End of 2025

An engineer at Ceer (company website)
An engineer at Ceer (company website)
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Saudi ‘Ceer’ to Unveil First Electric Car Models by End of 2025

An engineer at Ceer (company website)
An engineer at Ceer (company website)

Saudi electric vehicle maker Ceer, owned by the Public Investment Fund (PIF), plans to unveil its first two electric models—the Sedan and E-Class SUV—in late 2025.

This is part of its effort to build a full vehicle manufacturing ecosystem in the Kingdom, support the sector's growth, and create job opportunities, aligning with Vision 2030.

James DeLuca, CEO of Ceer, told Asharq Al-Awsat that production at its $1.3 billion Ceer Manufacturing Complex (CMC) is expected to start by 2026.

The complex will be part of the King Salman Automotive Cluster, named by Crown Prince Mohammed bin Salman earlier this month.

DeLuca highlighted that the King Salman Automotive Cluster is establishing a comprehensive industrial ecosystem for vehicle manufacturing, featuring advanced infrastructure and a supportive environment.

This will significantly boost Ceer’s ability to produce vehicles, attract further investments and partnerships, and accelerate the Kingdom’s transformation into a global hub for sustainable vehicle production.

Ceer aims to add $8 billion to Saudi Arabia’s GDP by 2034 and boost non-oil GDP by $24 billion to $34.6 billion, according to DeLuca. The company also expects to attract $150 million in foreign investment and create 30,000 direct and indirect jobs.

The company’s investment totals SAR6.6 billion ($1.76 billion).

DeLuca said Ceer plans to design, produce, and sell Sedan and SUV models in the E, D, and C categories. The CMC is central to the company’s goal of building a local electric vehicle industry, allowing it to deliver products that meet local and regional demands.

He also mentioned that Ceer is focusing on developing national talent by attracting global experts for knowledge transfer and job training. The company is also partnering with institutions to train Saudi talent.

Ceer offers Saudi graduates hands-on training with global automotive experts, helping to prepare skilled professionals for the Kingdom’s growing automotive sector.

At PIF’s Private Sector Forum 2025 in Riyadh, Ceer announced 11 agreements worth SAR 5.5 billion ($1.5 billion), 80% of which were with local private-sector companies.

This supports Ceer’s goal of localizing 45% of its supply chains and contributing to the Kingdom’s Vision 2030.

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China's Iran Oil Imports Surge in June on Rising Shipments, Teapot Demand

FILE PHOTO: An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. China Daily via REUTERS
FILE PHOTO: An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. China Daily via REUTERS
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China's Iran Oil Imports Surge in June on Rising Shipments, Teapot Demand

FILE PHOTO: An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. China Daily via REUTERS
FILE PHOTO: An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. China Daily via REUTERS

China's Iranian oil imports surged in June as shipments accelerated before the recent conflict in the region and demand from independent refineries improved, analysts said.

The world's top oil importer and biggest buyer of Iranian crude brought in more than 1.8 million barrels per day (bpd) from June 1-20, according to ship-tracker Vortexa, a record high based on the firm's data.

Kpler's data put the month-to-date average of China's Iranian oil and condensate imports at 1.46 million bpd as of June 27, up from one million bpd in May.

The rising imports are fueled in part by the accelerated discharge of high volumes of Iranian oil on the water after export loadings from Iran reached a multi-year high of 1.83 million bpd in May, Kpler data showed.

It typically takes at least one month for Iranian oil to reach Chinese ports, Reuters reported.

Robust loadings in May and early June mean China's Iran imports are poised to remain elevated, Kpler and Vortexa analysts said.

Independent Chinese "teapot" refineries, the main buyers of Iranian oil, also showed strong demand for the discount barrels as their stockpiles depleted, said Xu Muyu, Kpler's senior analyst.

A possible relaxing of US President Donald Trump's policy on Iranian oil sanctions could further bolster Chinese buying, she added.

Trump said on Wednesday that Washington has not given up its maximum pressure campaign on Iran - including restrictions on Iranian oil sales - but signaled a potential easing in enforcement to help the country rebuild.

For this week, Iranian Light crude oil was being traded at around $2 a barrel below ICE Brent for end-July to early-August deliveries, two traders familiar with the matter said, compared to discounts of $3.30-$3.50 a barrel previously for July deliveries.

Narrower discounts were spurred by worries that oil flows could be disrupted through the Strait of Hormuz, a critical waterway between Iran and Oman, traders said.

Market fears for a closure of the chokepoint had escalated after last weekend's US attack on Iranian nuclear sites but eased after Iran and Israel on Tuesday signaled a ceasefire.

Tighter discounts for Iranian oil come amid a retreat in futures prices. ICE Brent crude futures hovered at $68 per barrel on Friday, their level before the Israel-Iran conflict began and down 19% from Monday's five-month peak.