FEV and CEER sign MoU to advance EV program and Vision 2030 in Saudi Arabia
FEV and CEER signed a memorandum of understanding at the PIF Private Sector Forum to deepen collaboration on CEER's electric vehicle program and Saudi Arabia's Vision 2030.
- December 2024
- 2026
What Happened
FEV and CEER have signed a Memorandum of Understanding (MoU) during the PIF Private Sector Forum in Riyadh, Saudi Arabia. The agreement establishes a framework for cooperation focused on innovation, industrial development, and knowledge transfer. The partnership aims to support CEER's electric vehicle program and the long-term development of the Kingdom's automotive and mobility ecosystem. The forum, hosted by the Public Investment Fund (PIF), brings together public and private sector stakeholders to promote collaboration and investment.
FEV opened its Riyadh office to localize talent and build partnerships.
FEV and CEER signed the MoU at the PIF Private Sector Forum.
CEER plans to reveal its first flagship models, described as the start of a new era.
- Innovation
- Industrial development
- Knowledge transfer
“This MoU marks a significant step in our commitment to fostering innovation and industrial growth in the Kingdom. By partnering with CEER, we will combine our global expertise in automotive engineering and electrification with our partner’s vision for Saudi Arabia’s electric mobility future.”
“2026 is the year of CEER. We will reveal our first flagship models, visionary design, breakthrough technology, exhilarating performance, built for this region. This moment is more than a reveal; it is the start of a new era.”
“Very special thanks to our suppliers, like FEV, who signed an MoU to partner with CEER to build a competitive supplier ecosystem which is a big enabler to develop the Automotive Industrial Cluster in Saudi Arabia as part of Vision 2030.”
Why this matters
This agreement brings FEV's global engineering expertise to CEER, Saudi Arabia's first EV brand, helping to build local capabilities and a competitive automotive ecosystem. It supports the Kingdom's Vision 2030, which aims to diversify the economy beyond oil and create jobs. The partnership also marks progress for CEER's planned flagship models, expected to be revealed in 2026.
Terms in This Story
- Memorandum of Understanding (MoU)
- A formal agreement between two parties to establish a framework for cooperation, often non-binding in specific terms.
- Electric vehicle (EV)
- A vehicle powered by an electric motor using energy stored in rechargeable batteries.
- Vision 2030
- A national strategy by Saudi Arabia to diversify its economy beyond oil, focusing on innovation, investment, and private-sector growth.
Summarised from the linked release; details can be imperfect — always verify against the original source.