Saudi EV brand Ceer signs $986 million of deals to localise manufacturing

About this update from Foxconn Technology Co., Ltd.

Saudi electric vehicle brand Ceer has signed 16 deals worth a combined 3.7 billion riyals ($986.6 million) to localise EV manufacturing in the Gulf country, Saudi state news agency SPA reported on Monday without disclosing any further detail.Ceer is a joint venture between Saudi's sovereign wealth fund and Foxconn TWSE:2354.($1 = 3.7502 riyals)

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