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01 Dec

Saudi EV brand Ceer secures land allocation

Saudi Arabia's joint venture EV company Ceer, owned by Taiwanese Foxconn and Saudi Public Investment Fund (PIF) has purchased land worth SAR 360 million ($96m) in the King Abdullah Economic City (KAEC) on the Red Sea coast, on which Ceer’s production facility will be built, Kallanish notes. Construction work for the factory is to begin in early 2023. The site on the western coast of Saudi Arabia covers more than 1 million square metre…
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