Ceer Company Profile

Background

Ceer is Saudi Arabia's first electric vehicle (EV) brand, established in November 2022 as a joint venture between the Public Investment Fund (PIF) and Hon Hai Precision Industry Co. (Foxconn). The company's mission is to create a sustainable national automotive company that ignites the Kingdom's automotive ecosystem and generates valuable job opportunities for Saudi talent. Ceer aims to design, manufacture, and sell a range of electric vehicles, including sedans and sports utility vehicles, catering to consumers in Saudi Arabia and the broader Middle East and North Africa (MENA) region. This initiative aligns with Saudi Arabia's Vision 2030, focusing on economic diversification and environmental sustainability.

Key Strategic Focus

Ceer's strategic objectives include:

Product Development: Designing and producing a portfolio of electric vehicles that lead in infotainment, connectivity, and autonomous driving technologies.

Technological Integration: Licensing component technology from BMW and leveraging Foxconn's expertise to develop the electrical architecture of the vehicles.

Market Expansion: Targeting the MENA region with plans to distribute vehicles by 2025.

Economic Contribution: Attracting over $150 million in foreign direct investment and creating up to 30,000 direct and indirect jobs, with a projected contribution of $8 billion to Saudi Arabia's GDP by 2034.

Financials and Funding

Ceer is a joint venture between PIF and Foxconn, with BMW as the component technology provider in the vehicle development process. Foxconn will develop the electrical architecture of the vehicles, leveraging their technological expertise to support Ceer’s vision of creating a range of iconic electric vehicles that are built around the themes of connectivity, infotainment, and autonomy.

Pipeline Development

Ceer is developing a range of electric vehicles, including sedans and SUVs, with the following milestones:

2022: Company launch and establishment of strategic partnerships.

2024: Commencement of construction for the Ceer Manufacturing Complex in King Abdullah Economic City.

2025: Expected availability of Ceer vehicles in the market.

Technological Platform and Innovation

Ceer's technological advancements include:

Proprietary Technologies: Licensing component technology from BMW for vehicle development.

Scientific Methods: Collaborating with Rimac Technology to supply high-performance, fully integrated Electric Drive Systems (EDS) for flagship models.

AI-Driven Capabilities: Partnering with Foxconn to develop the electrical architecture, focusing on infotainment, connectivity, and autonomous driving technologies.

Leadership Team

His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud: Chairman of the Board.

James DeLuca: Chief Executive Officer.

Christopher Goodey: Chief Manufacturing Officer.

Amir Hassan: Chief Legal and Compliance Officer.

John Jollie: Manufacturing Engineering Executive Director.

Markus Leitner: Chief Technical Officer.

Robert Melville: Chief Design Officer.

Joerg Schuessler: Chief Financial Officer.

Mitchell Thomas Jr.: Chief Quality Officer.

Johnny Saldanha: Chief Procurement and Supply Chain Officer.

Leadership Changes

As of the latest available information, there have been no recent significant changes or appointments within Ceer's leadership team.

Competitor Profile

Market Insights and Dynamics

The global electric vehicle market is experiencing rapid growth, driven by technological advancements, environmental concerns, and supportive government policies. The MENA region, including Saudi Arabia, is witnessing increased interest in EVs, with initiatives aimed at reducing carbon emissions and diversifying economies.

Competitor Analysis

Key competitors in the EV market include:

Tesla: A global leader in electric vehicles, known for its innovation and extensive charging infrastructure.

Lucid Motors: An American EV manufacturer focusing on luxury electric sedans, with plans to establish a manufacturing facility in Saudi Arabia.

NIO: A Chinese EV manufacturer specializing in premium electric vehicles and battery-swapping technology.

Strategic Collaborations and Partnerships

Ceer has established several significant partnerships:

Rimac Technology: Supplying high-performance, fully integrated Electric Drive Systems for flagship models.

Isoclima: Developing innovative glass solutions, including the world's largest windshields, for upcoming flagship sedans and SUVs.

Sabelt: Engineering and producing high-performance seats for flagship models.

Hyundai Transys: Supplying advanced Electric Vehicle Drive Systems (EDS) under a $2.18 billion contract.

Schuler: Installing a fully automatic press shop at the Ceer Manufacturing Complex.

EVIQ: Collaborating to enhance the EV ecosystem in Saudi Arabia with reliable charging infrastructure.

Operational Insights

Ceer's strategic considerations include:

Localization: Committing to a 45% localization target to build a robust local supply chain and strengthen the Kingdom's automotive ecosystem.

Manufacturing Excellence: Constructing a state-of-the-art manufacturing complex in King Abdullah Economic City, covering over 1 million square meters.