Riyadh – Mubasher: Ceer, a JV between Saudi Public Investment Fund (PIF) and Foxconn, awarded a SAR 5 billion ($1.30 billion) construction contract, according to a recent press release.
The deal, which was awarded to Saudi company Modern Building Leaders (MBL), covers Ceer’s electric vehicle (EV) manufacturing complex in King Abdullah Economic City.
MBL will build a facility spanning over 1 million square metres (m2 )and will have an area under a roof of 530,000 m2. It will also include dedicated zones for every stage of vehicle production, including a press shop, body shop, paint shop, and general assembly.
Jim DeLuca, CEO of Ceer, commented: “This complex will be a benchmark for industrial excellence within the region and globally. It will feature the best technologies, equipment, and people, supported by partnerships with global industry leaders such as Dürr, Schuler, Siemens, ABB, and many more.”
Ceer is committed to designing, manufacturing, and supplying technologically electric sedans and sport utility vehicles (SUVs), leveraging advanced systems from Foxconn and BMW.
