RIYADH, Saudi Arabia: Ceer — Saudi Arabia’s first electric vehicle (EV) brand and original equipment manufacturer (OEM) – has joined the United Nations Global Compact and is embedding its 10 principles into its strategy, culture, and operations.
Joining the UN Global Compact reflects Ceer’s commitments to sustainability, public accountability, and transparency, and developing new networks and partnerships. This is in-line with Ceer’s position as a portfolio company of Saudi Arabia’s Public Investment Fund (PIF), supporting the Fund’s vision for a sustainable and diversified national economy. It is also aligned with Ceer’s support of the Saudi Green Initiative (SGI), as well as with the company’s dedication to the UN Sustainable Development Goals (SDGs).
“Ceer is steadfastly committed to igniting the Kingdom’s progress in Environmental, Social and Governance (ESG) best practices in the automotive industry. We underscore this commitment by reinforcing our responsibility, our sustainability, and our transparency, integrating the Compact’s 10 principles into heart of all we do,” said Jim DeLuca, CEO of Ceer.
As Saudi Arabia’s first end-to-end EV brand and OEM, Ceer — a joint venture between PIF and Foxconn — was launched to support the electric vehicle sector, aligned with Saudi Arabia’s Vision 2030 aspirations for economic diversification, carbon emission reduction, and mobility innovation.
Ceer is designing, manufacturing, and supplying technologically sophisticated electric sedans and SUVs, leveraging advanced systems from Foxconn and BMW, to be produced in the Ceer Manufacturing Complex (CMC) currently under construction in King Abdullah Economic City (KAEC) on Saudi Arabia’s Red Sea coast.
Launched in 2000, the UN Global Compact is the largest corporate sustainability initiative in the world, with more than 20,000 companies based in over 160 countries.
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About Ceer – www.ceermotors.com
Ceer is the first Saudi automotive brand to produce electric vehicles in Saudi Arabia, and will design, manufacture and sell a range of vehicles for consumers in Saudi Arabia and the MENA region, including sedans and sports utility vehicles. A part of PIF’s strategy to diversify Saudi Arabia’s GDP growth by investing in promising growth industries, Ceer will attract over US$150 million of foreign direct investment, and create tens of thousands of direct and indirect jobs. Ceer is projected to directly contribute US$8 billion to Saudi Arabia’s GDP by 2034. The company, which is a joint venture between PIF and Hon Hai Precision Industry Co. (“Foxconn”), will license component technology from BMW for use in the vehicle development process. Foxconn will develop the electrical architecture of the vehicles, resulting in a portfolio of products that will lead in the areas of infotainment, connectivity and autonomous driving technologies. Each vehicle will be designed and manufactured in Saudi Arabia and tested to the highest global automotive quality control and safety standards.
