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

An engineer at Ceer (company website)
An engineer at Ceer (company website)
TT
20

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.



OPEC Sees Robust Oil Demand in Third Quarter

The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al Ghais (X)
The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al Ghais (X)
TT
20

OPEC Sees Robust Oil Demand in Third Quarter

The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al Ghais (X)
The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al Ghais (X)

The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al Ghais, said the group anticipates exceptionally strong demand for oil in the third quarter of this year, with only a narrow gap expected between supply and consumption in the months that follow.

According to Russia’s state news agency on Monday, Al Ghais shared these assessments with reporters on the sidelines of last week’s OPEC seminar in Vienna. He indicated that the organization foresees demand rising by 1.3 million barrels per day on an annual basis in 2025, driven largely by a resilient global economy.

He explained that this outlook suggests a particularly robust increase in consumption during the third quarter. Demand is also projected to stay healthy into the fourth quarter, while the difference between production and usage should remain minimal. Al Ghais noted that this dynamic is among the key factors encouraging the alliance of eight oil-producing countries to consider raising output once again.

OPEC’s latest oil market outlook, published last Thursday, forecasts that global demand will average 105 million barrels per day this year. The report predicts demand will climb further to 106.3 million barrels per day in 2026 and reach 111.6 million barrels per day by 2029.

Meanwhile, eight members of the broader OPEC+ coalition - which includes Russia among other allies - are moving to phase out production cuts that have been in place for years to help stabilize the market.

Five sources told Reuters that OPEC+ producers are leaning toward agreeing on another production increase in September.