Foxconn JV buys land for EV manufacturing facility in Saudi Arabia


Construction of the Ceer EV manufacturing plant is slated to begin early 2023

Ceer, a joint venture between Taiwan’s Hon Hai Precision Industry Co. (Foxconn) and Saudi Arabia’s Public Investment Fund (PIF), has signed a land purchase agreement for USD 95.6 million with Emaar, the Economic City, the company announced on 29 November 2022.

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