Foxconn will provide the industrial backing for the country's first EV startup.
Hon Hai Technology Group- Ceer EV brand launched by Saudi Arabia’s Public Investment Fund (PIF), as part of the country’s Vision 2030 agenda.
- Hon Hai Technology Group, better known as Foxconn, will develop EVs for Ceer with its own powertrain hardware as well as tech sourced from BMW.
- Foxconn has recently revealed electric-vehicle concepts under the industry-facing Foxtron brand, which it plans to produce for other automakers by contract.
iPhone maker Foxconn recently cemented its status as an EV maker with the launch of its Foxtron platform, which it intends to offer other brands. But until now it hasn’t been particularly clear just which brands these technologies would benefit, aside from Taiwan’s Luxgen.
Foxconn has now revealed that in a joint venture with Saudi Arabia’s Public Investment Fund (PIF) it will launch Ceer, the country’s first automotive brand. To make it happen, Foxconn also plans to license technology from BMW, planning a lineup that will include sedans and SUVs. Foxconn plans to develop the electrical architecture for the cars, in addition to infotainment and autonomous driving tech.
“We will leverage Foxconn’s 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,” said Young Liu, chairman of Hon Hai Technology Group.
Foxconn plans to produce the vehicles in Saudi Arabia as well starting in 2025, so they won’t be simply shipped in from elsewhere.
However, the company did not mention just what components its plans to source from BMW.
Foxconn revealed the logo of the new brand.
Hon Hai Technology Group
Earlier this year Foxconn took over the Youngstown, Ohio, plant from Lordstown Motors, signing an agreement to operate the plant, and plans to produce the Lordstown Endurance all-electric pickup there in addition to EVs for Fisker at a later date.
“We want to make electric vehicles mainstream, and that is what Ceer is going to achieve in Saudi Arabia and the wider region,” Liu added.
The Ceer EV brand isn’t the only thing the country’s PIF has in the works, as the fund has invested heavily in Lucid, which plans to begin production of its own vehicles in the country the same year.
The plans are all part of the country’s ambitious Vision 2030 agenda, one of the aims of which is to diversify Saudi Arabia’s economy, shifting it away from oil production.
Jay Ramey Jay Ramey grew up around very strange European cars, and instead of seeking out something reliable and comfortable for his own personal use he has been drawn to the more adventurous side of the dependability spectrum.
Keyword: Saudi Arabia Launches Its Own EV Brand