LCGPA Signs Two Agreements with CEER to Localize Saudi Electric-Vehicle Manufacturing
The two agreements aim to localize the manufacturing of sedan and SUV electric vehicles as part of CEER’s efforts to launch the first Saudi electric vehicle to be designed, engineered, and manufactured entirely within the Kingdom.
Including the covered products on the mandatory list of national products will help direct government spending toward listed products, empower local manufacturers and national talent, strengthen advanced industrial capabilities, and support the objectives of Saudi Vision 2030.
LCGPA CEO Abdulrahman bin Abdullah Al-Samari described the automotive industry as one of the world’s most important strategic industries and a targeted sector under the National Industrial Strategy.
He said the agreements will support the development of strategic industries, strengthen local supply chains, create job opportunities, encourage the purchase of primary raw materials from the local market, and raise the competitiveness of Saudi Arabia’s industrial sector.
Inclusion on the mandatory list of national products is intended to direct government spending toward listed products while empowering local manufacturers and national talent. It also supports the development of advanced industrial capabilities in the Kingdom.
- Direct government spending toward listed national products.
- Empower local manufacturers and national talent.
- Strengthen advanced industrial capabilities in Saudi Arabia.
- Support the objectives of Saudi Vision 2030.
CEER CEO James DeLuca said the agreements mark a significant milestone for the company and the future of mobility in Saudi Arabia.
By 2034, CEER aims to provide close to 30,000 jobs, including 6,500 direct and 23,500 indirect jobs, with Saudi nationals filling 80% of direct positions.
The company also aims to generate an estimated SAR 30 billion in GDP impact and reach 45% local content in CEER’s products.
The agreements are part of LCGPA’s efforts to activate the Localizing Industry and Transferring Knowledge mechanism. It is designed to encourage investors that own globally leading industries to transfer industries and knowledge to Saudi Arabia.
Incentives are agreed upon based on feasibility studies that consider the economic return relative to the commitments of the government and the investor. The mechanism is intended to create specialized industries and strengthen local content.
The two agreements connect electric-vehicle localization with knowledge transfer, local supply-chain development, and stronger industrial capabilities. They also support Saudi Arabia’s broader effort to build a competitive automotive sector under the goals of Saudi Vision 2030.
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