SABIC and CEER Sign MoU to Explore EV Industry Collaboration in Saudi Arabia
SABIC, a global leader in diversified chemicals, announced the signing of a Memorandum of Understanding (MoU) with CEER, Saudi Arabia’s first electric vehicle brand and original technology equipment manufacturer. The partnership will explore collaboration in applying SABIC’s advanced materials and innovative solutions in designing, developing, and manufacturing CEER’s electric vehicles.
The signing ceremony at SABIC’s headquarters in Riyadh was attended by Dr. Faisal M. Alfaqeer, SABIC CEO and Executive Board Member, and Mr. James DeLuca, CEER CEO.
The MoU provides a framework for developing and innovating solutions and products by evaluating the possible use of SABIC’s advanced materials in selected CEER vehicle applications, as well as defining terms for potential long-term commercial collaboration.
- Evaluate SABIC advanced materials for selected applications in CEER electric vehicles.
- Jointly develop material and processing solutions that fulfill automotive industry requirements.
- Share knowledge and technical experience in sustainability and product development.
- Explore strategic sourcing opportunities to build a high-quality local supply chain.
- Pursue additional areas of mutually agreed collaboration across future projects.
SABIC’s materials and solutions are contributing to the sustainable growth of the global automotive industry by enabling manufacturers to advance electric vehicle development and accelerate the transition to a carbon-neutral future. SABIC has been a world-leading producer of advanced thermoplastics and engineering materials for decades.
In 2022, CEER and the National Industrial Development and Logistics Program (NIDLP) announced plans to accelerate global electrification efforts by supporting safe and scalable EV manufacturing with advanced thermoplastics, lightweight design expertise, and engineering capabilities.
CEER will continue leveraging these technical innovations to accelerate the growth of Saudi Arabia’s automotive sector, building a highly competitive and sustainable local EV ecosystem.
CEER is the first Saudi automotive brand to produce electric vehicles in Saudi Arabia and will design, engineer, manufacture, and sell sedans and sports utility vehicles for consumers in Saudi Arabia and the MENA region. Part of PIF’s strategy to diversify Saudi Arabia’s GDP growth by investing in promising growth industries, CEER is projected to directly contribute US$8 billion to Saudi Arabia’s GDP, US$21 billion to trade balance improvement and create tens of thousands of direct and indirect jobs by 2034.
The company, a joint venture between PIF and Hon Hai Precision Industry Co. (“Foxconn”), is partnering with BMW to license component technologies. Foxconn will develop the electrical architecture of the vehicles, resulting in advanced infotainment, connectivity, and autonomous driving capabilities tested to global quality and safety standards.
The MoU provides SABIC and CEER with a structured path to evaluate advanced materials, sustainable manufacturing solutions, and strategic sourcing. The partnership plays a pivotal role in strengthening Saudi Arabia’s industrial capabilities and advancing its EV sector under Saudi Vision 2030.
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