Emaar, The Economic City, the master developer of King Abdullah Economic City in Saudi Arabia announced in a statement that Ceer, Saudi Arabia’s first electric vehicle company, has signed an IndustrialValley land purchase agreement.
The value of the agreement is SAR 359 million (USD 95.7 million).
The site will be in close proximity to King Abdullah Port and will cover over 1 million sqm.
Ceer manufacturing facility will create thousands of direct and indirect high-skilled jobs, the majority of which will be filled by Saudi nationals. Construction at the site will begin early 2023, statement mentioned.
Related: Saudi Arabia Launches CEER, the first Saudi Electric Vehicle Brand
