Saudi Arabia is advancing its industrial diversification efforts with the launch of a new electric vehicle (EV) brand, Ceer, marking a significant step in the Kingdom’s Vision 2030 initiative to reduce dependence on oil revenues. The announcement was made on September 21, 2026, when Crown Prince Mohammed bin Salman unveiled Ceer’s first flagship models, the Exobot sedan and sport utility vehicle (SUV).

For over 80 years, since the country’s first commercial oil shipment in 1939, oil revenues have been central to Saudi Arabia’s economy. However, fluctuating global oil prices have presented persistent challenges to the country’s development and economic stability. To address these issues, Saudi Arabia launched Vision 2030 in April 2016 as a long-term plan aimed at economic diversification and expanding non-oil revenue sources.

Ceer, established as Saudi Arabia’s first domestic electric vehicle brand, is a key element of this strategy. The company was introduced by the Crown Prince in November 2022 with the goals of fostering local manufacturing, attracting investment, increasing employment opportunities, and boosting private sector participation in the national economy. Ceer intends to produce and distribute a broad range of EVs tailored to both the Saudi and wider Gulf Cooperation Council (GCC) markets.

In partnership with BMW, Ceer is adopting licensed technology to develop its vehicle lineup, which will include sedans and SUVs produced at the Ceer Manufacturing Complex. This advanced facility, located within the King Salman Automotive Cluster in King Abdullah Economic City, is the largest automotive manufacturing plant in the Middle East and among the most technologically sophisticated in the world.

The Exobot models, introduced initially in limited “First Edition” versions, reflect design elements inspired by Saudi Arabia’s natural landscapes and cultural heritage. These vehicles have been engineered in Saudi Arabia to meet international standards, underscoring the Kingdom’s ambition to become a regional leader in the automotive sector.

Projections for Ceer’s economic impact are substantial. By 2034, the company is expected to contribute over 30 billion Saudi riyals (approximately $8 billion) to the national gross domestic product, improve the trade balance by around 80 billion riyals, and generate some 30,000 direct and indirect jobs, with Saudis filling 80 percent of the direct positions. The initiative also aligns with the country’s environmental goals under the Saudi Green Initiative, including the target of achieving net-zero carbon emissions by 2060.

Ceer’s vision aligns with the Public Investment Fund’s (PIF) broader strategy and the goals of Vision 2030. The company aims to attract upwards of 662.5 million riyals in foreign direct investment by 2034, further supporting Saudi Arabia’s economic diversification and efforts to expand its role as a global investment destination. Through these efforts, the Kingdom seeks to establish itself as a hub for innovation and manufacturing in the evolving electric vehicle industry.