Saudi PIF-Backed Ceer Unveils EV Lineup to Diversify Economy Away from Oil

Saudi Arabia's Public Investment Fund and Foxconn-backed EV startup Ceer unveiled a sedan and SUV with gull-wing doors, targeting sales from 2027 and five more models by 2030. This marks a concrete step in the kingdom's Vision 2030 diversification strategy, though production timelines and market reception remain unproven. The move signals a long-term shift in Saudi industrial policy, with potential implications for global EV competition and oil demand.