{"id":57907,"date":"2026-08-04T23:48:16","date_gmt":"2026-08-04T20:48:16","guid":{"rendered":"https:\/\/thesauditimes.net\/en\/?p=57907"},"modified":"2026-08-04T23:48:16","modified_gmt":"2026-08-04T20:48:16","slug":"saudi-arabia-signs-new-agreements-to-boost-electric-vehicle-manufacturing-with-2-4-billion-economic-impact","status":"publish","type":"post","link":"https:\/\/thesauditimes.net\/en\/saudi-arabia-signs-new-agreements-to-boost-electric-vehicle-manufacturing-with-2-4-billion-economic-impact\/","title":{"rendered":"Saudi Arabia Signs New Agreements to Boost Electric Vehicle Manufacturing with $2.4 Billion Economic Impact"},"content":{"rendered":"

Saudi Arabia has taken another major step toward establishing a competitive domestic electric vehicle industry after the Local Content and Government Procurement Authority signed two strategic agreements with Ceer<\/strong>, the Kingdom’s national electric vehicle manufacturer.<\/p>\n

The agreements are expected to generate an estimated SAR 9.213 billion ($2.4 billion)<\/strong> in economic impact over the next ten years while strengthening local manufacturing, expanding supply chains, and supporting the objectives of Saudi Vision 2030.<\/p>\n

Supporting Saudi Arabia’s First Electric Vehicle<\/h2>\n

The agreements cover the local production of electric sedan and SUV models<\/strong>, while including Ceer’s products on the government’s mandatory national products list.<\/p>\n

This move is designed to direct government procurement toward locally manufactured products, providing strong support for Ceer’s efforts to design, engineer, and manufacture Saudi Arabia’s first domestically produced electric vehicle.<\/p>\n

The initiative also aims to reduce dependence on imports while building advanced industrial capabilities within the Kingdom.<\/p>\n

Multi-Billion-Riyal Economic Impact<\/h2>\n

According to official estimates, the agreements will contribute approximately SAR 9.213 billion<\/strong> to the national economy over the coming decade and create more than 2,600 jobs<\/strong> during various stages of production.<\/p>\n

The partnerships are also expected to increase local value creation by expanding the use of Saudi-made components and encouraging domestic suppliers to participate in the automotive manufacturing ecosystem.<\/p>\n

Strengthening Local Content and Supply Chains<\/h2>\n

Abdulrahman Al-Samari, CEO of the Local Content and Government Procurement Authority, described the automotive industry as one of the strategic sectors identified under the National Industrial Strategy.<\/p>\n

He said the agreements will enhance domestic supply chains, encourage procurement of locally sourced raw materials, facilitate technology transfer, and strengthen Saudi Arabia’s industrial competitiveness through higher local content.<\/p>\n

30,000 Jobs Targeted by 2034<\/h2>\n

Ceer CEO James DeLuca described the agreements as a major milestone for the company, emphasizing that Ceer is building a fully integrated automotive manufacturing ecosystem inside Saudi Arabia based on world-class engineering and production standards.<\/p>\n

By 2034<\/strong>, the company aims to create approximately 30,000 jobs<\/strong>, including 6,500 direct<\/strong> and 23,500 indirect<\/strong> positions, with Saudi nationals expected to fill around 80% of the direct workforce<\/strong>.<\/p>\n

Ceer also plans to generate an overall economic contribution of approximately SAR 30 billion<\/strong> while increasing the local content ratio in its vehicles to 45%<\/strong>.<\/p>\n

Building a Globally Competitive Automotive Industry<\/h2>\n

The agreements represent another milestone in Saudi Arabia’s strategy to develop advanced industries and establish the Kingdom as a regional hub for electric vehicle manufacturing.<\/p>\n

Through technology localization, knowledge transfer, industrial investment, and stronger domestic supply chains, Saudi Arabia continues to diversify its economy and strengthen its position in the global automotive industry.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"

Saudi Arabia has taken another major step toward establishing a competitive domestic electric vehicle industry after the Local Content and Government Procurement Authority signed two strategic agreements with Ceer, the Kingdom’s national electric vehicle manufacturer. The agreements are expected to generate an estimated SAR 9.213 billion ($2.4 billion) in economic impact over the next ten years while strengthening local manufacturing, expanding supply chains, and supporting the objectives of Saudi Vision 2030. Supporting Saudi Arabia’s First Electric Vehicle The agreements cover the local production of electric sedan and SUV models, while including Ceer’s products on the government’s mandatory national products list.<\/p>\n","protected":false},"author":1,"featured_media":57908,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12852],"tags":[],"class_list":["post-57907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-finance"],"yoast_head":"\nSaudi Arabia Signs New Agreements to Boost Electric Vehicle Manufacturing with $2.4 Billion 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