Foxconn partners Saudi Wealth Fund to build EVs in Saudi Arabia

Circular Economy

Saudi Arabia launched a new automotive brand Ceer, which plans to license component technology from BMW to locally design and produce EVs for the Middle East and North African markets

Taiwan’s technology company Hon Hai Precision Industry, more popularly known as Foxconn, has partnered with Saudi Arabia's sovereign wealth fund to build electric vehicles in the middle east country, according to a news report published by Nikkei Asia on 4 November 2022.

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