Saudia-made electric car to be rolled out in 2025
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Salma Hossein
- . November 29, 2022
- . Update: November 30, 2022 12:44 am
A senior official has announced that Saudi Arabia would make 150,000 electric automobiles yearly and will have its first electric vehicle in 2025.
Ibrahim Almojel, CEO of the Saudi Industrial Development Fund (SIDF), stated that Saudi Arabia will be able to accomplish this target with the help of the public and private sectors in a recent interview with Rotana Khalejeyah.
Almojel explained the distinctions between Lucid and Ceer by stating that the American company is concentrating on the luxury automotive market.
Read | Saudi Arabia ranks first among G20 countries in labour force growth rate
Almojel said, stating that Ceer would transform into an integrated company not specialized in a particular sort. In the meanwhile, the Saudi Ceer will concentrate more on the everyday and most used vehicle. Information will be made available later.
Almojel stated that the SIDF and the industrial finance sector in Saudi Arabia will finance any plant located within the Kingdom, even if it is owned by a foreign national, provided the foreign owner adds value to the nation.
