Saudi Press

Saudi Arabia and the world
Tuesday, May 21, 2024

Saudi Arabia's EV Revolution: Crown Prince Drives Electric Vehicle Industry Forward in Middle East

Saudi Arabia is at the forefront of the shift towards sustainable transportation in the Middle East, with electric vehicles (EVs) gaining popularity.
The country's Crown Prince, Mohammed bin Salman, launched the Kingdom's first automotive brand, Ceer, in 2022 to produce EVs and establish a new industry and ecosystem.

This initiative aims to attract investments, create jobs, empower the private sector, and boost Saudi Arabia's economy over the next decade.

The transition to EVs is expected to revolutionize transportation in the region, but it remains to be seen how quickly they will become a part of daily life.

The Public Investment Fund of Saudi Arabia announced plans to invest in electric vehicle (EV) production as part of the country's Vision 2030 economic growth strategy.

This announcement sparked interest from various EV brands, including Lucid, Aston Martin, and startups, to explore production facilities and partnerships in Saudi Arabia.

Goldman Sachs predicts that EVs will make up 50% of global car sales by 2035, despite challenges in the sector.

Within five years after that date, analysts expect that half of car sales will be for more advanced autonomous or partially autonomous vehicles.

Saudi Arabia aims to achieve its electrification goals by establishing a strong public charging infrastructure network, according to Mohammad Gazzaz, CEO of the Electric Vehicle Infrastructure Co. This network is crucial for supporting the Kingdom's vision and ambition towards electrification.
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