James DeLuca, CEO of CEER, said: “At the beginning of this year we said that 2026 is the year of CEER. I am happy to announce that we’ve set the date for the reveal of our first flagship vehicles and can't wait to show what CEER has been working on for the past few years. The world is about to witness a historic moment, the result of an incredible journey from initial design and intensive engineering to the buildup of one of the most advanced manufacturing facilities in the world, in record time.”

CEER was created as a joint venture between PIF and Foxconn, with a mandate to ignite the automotive industry. It is the only company to design, engineer, source, validate, manufacture, and soon sell and service a portfolio of aspirational vehicle in Saudi Arabia.

Since its inception in 2022, CEER has been focused on building a diverse mix of Saudi talent and global experts that had grown from 20 employees to 2,300; securing key partnerships with renowned international partners including BMW, Hyundai Transys, Rimac, Siemens, Sabelt, Isoclima, ANDRITZ Schuler, Dürr, XYG, Lear, Benteler, Fangxin, Shin Young, JVIS, as well as leading local companies including Zamil Group, Abdul Latiff Jameel Group and APICO (Balubaid Group) that are driving the target of reaching 45% local content by 2034; building one of the most advanced manufacturing complexes in the world; and designing, engineering and testing vehicles that are tailor-made to the specific requirements of Saudi Arabia and the region.

CEER is positioned to be a key enabler of Saudi Arabia's industrial transformation, creating lasting economic impact and supporting the Kingdom's diversification ambitions under Vision 2030. By 2034, CEER is projected to contribute USD 8 billion (~SAR 30+ bn) to Saudi Arabia’s GDP, USD 21 billion (~ SAR 80 bn) to trade balance improvement and create approximately 30,000 direct and indirect jobs with 80% of direct jobs being held by Saudis. CEER supports the Saudi Green Initiative (SGI) target of Net-Zero emissions in Saudi Arabia by 2060.