Oil-rich Saudi launches first electric vehicle company | Fin24

Saudi Arabia to launch its first brand of electric vehicles.

Saudi Arabia announced on Thursday the launch of its first brand of electric vehicles, part of a broader push to diversify the economy of the world's biggest oil exporter. Ceer"will design, manufacture and sell a range of vehicles for consumers in Saudi Arabia and the MENA region, including sedans and sports utility vehicles," it said, adding the company was expected to create"30,000 direct and indirect jobs".In April, Saudi Arabia announced a deal with US-based Lucid Motors, which is setting up a factory in the kingdom, to purchase up to 100,000 electric vehicles over the next decade.

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