Saudi Vision 2030: Progress in EV

Pioneering the future of mobility by turning the Kingdom into a leading EV manufacturing hub through large-scale investments and ambitious infrastructure development.

A Bold Vision for Electric Mobility

As Saudi Arabia is embarking on an ambitious journey to revolutionize its automotive sector, electric vehicles (EVs) are at the forefront of its economic diversification strategy. Under Vision 2030, the Kingdom made a promise to have 30% of all vehicles in Riyadh electric by 2030 and has backed that promise with substantial investments totaling over $50 billion in EV manufacturing and infrastructure development.

The rapid advancement of the sector is now seen by groundbreaking developments like the Lucid Motors manufacturing facility in KAEC and the establishment of CEER, Saudi Arabia's first homegrown EV brand, positioning the Kingdom as a rising force in the global EV landscape.

Electric Mobility Achievements:

• 30% of cars to be EVs in Riyadh by 2030
• $50 billion - investment committed to EV production over next decade
• 5,000+ public charging stations planned by 2030
• 600,000 annual EV production capacity target

Building a National EV Champion

The launch of Ceer, Saudi Arabia's first homegrown EV manufacturer, marks a pivotal moment in the Kingdom's automotive history. This joint venture between PIF and Foxconn represents more than just vehicle production - it's the foundation of Saudi Arabia's industrial transformation.

Alongside Ceer, the Kingdom has attracted significant investments from global players like Lucid Motors, which has established its first international manufacturing facility in King Abdullah Economic City. These developments are complemented by strategic partnerships with companies like Human Horizons and Hyundai, creating a diverse and robust automotive manufacturing ecosystem.

The Environmental and Economic Implications of the Growing EV Sector

The EV revolution is unlocking multiple sectors, from renewable energy to advanced manufacturing. The transition to electric mobility is expected to reduce carbon emissions greatly, with projections showing a 13% reduction compared to a traditional vehicle fleet by 2030. Beyond environmental benefits, the sector is driving innovation in battery technology, charging infrastructure, and smart mobility solutions. The ripple effects are creating new opportunities in areas such as battery recycling, charging network operations, and specialized maintenance services.

Opportunities Abound for Global Companies

For international investors and companies, Saudi Arabia's EV sector presents compelling opportunities across the value chain. From battery manufacturing and charging infrastructure to software development and maintenance services, the Kingdom offers attractive incentives, strong government support, and access to a growing market. With its strategic location, robust infrastructure, and commitment to clean energy, Saudi Arabia is positioning itself as an ideal hub for companies looking to participate in the Middle East's electric vehicle revolution.