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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