# Saudi wealth fund and Foxconn form Ceer electric car joint venture

Saudi Arabia's sovereign wealth fund (PIF) and Foxconn announced a joint venture called Ceer to design, manufacture, and sell electric vehicles in Saudi Arabia and the MENA region.

- Type: Partnership
- Announced: 2022-11-03
- Where: Saudi Arabia, Saudi Arabia
- Status: announced
- Products: electric vehicles
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Ceer](https://endata.com/companies/30631.md)
- [Foxconn](https://endata.com/companies/15170.md) (partner)
- [Public Investment Fund](https://endata.com/companies/47932.md) (partner)

## Sources

- [reuters.com](https://www.reuters.com/business/autos-transportation/saudi-crown-prince-launches-ceer-first-saudi-electric-vehicle-brand-2022-11-03/), 2022-11-03: "Ceer is the first Saudi automotive brand to produce electric vehicles in Saudi Arabia."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.