Today, Thursday, Saudi Crown Prince Mohammed bin Salman launched the “Seer” company, the first brand to produce electric cars in Saudi Arabia.
Prince Mohammed bin Salman said the new company will help attract local and international investment and create many job opportunities for local talent.
SIER is a joint venture between the Public Investment Fund and Foxconn and BMW will provide the company with licenses for electric vehicle components.
Sir will design, manufacture and sell electric cars and produce technical systems with self-driving cars, and the company’s cars will be available for sale in 2025, according to the Saudi news agency.
The Seer Company is expected to attract 562 million riyals of foreign investment to the Kingdom, as well as create 30,000 direct and indirect jobs and contribute to GDP of 30 billion riyals by 2034.
Interestingly, Saudi Arabia has paid attention to the electric car sector and owns a majority stake in the electric car maker “Lucid”, as steps are accelerating towards the establishment first factory Integrated for the production of electric cars in the Kingdom, as Lucid Company has signed agreements to build the factory, which will have a production capacity of 155,000 cars per year, and its investments are estimated at over 12 billion riyals.
