FEV has signed a Memorandum of Understanding (MoU) with CEER, marking a significant milestone in the strengthening of their strategic partnership.
The agreement further strengthens collaboration in key areas to support CEER’s electric vehicle program and align with Saudi Arabia’s Vision 2030 goals.
According to the statement, the MoU establishes a framework for cooperation focused on innovation, industrial development, and knowledge transfer.
Through this partnership, FEV and CEER will explore opportunities to leverage their combined expertise to drive technological advancement, enhance local capabilities, and support the long-term development of the Kingdom’s automotive and mobility ecosystem.
The signing took place at the PIF Private Sector Forum, hosted by the Public Investment Fund (PIF), a leading platform that brings together public and private sector stakeholders to promote collaboration, investment, and sustainable development across strategic industries.
FEV and CEER Strategic Partnership
Mayank Agochiya, President of FEV Asia, said that, “This MoU marks a significant step in our commitment to fostering innovation and industrial growth in the Kingdom. By partnering with CEER, we will combine our global expertise in automotive engineering and electrification with our partner’s vision for Saudi Arabia’s electric mobility future.”
“Together, we will develop advanced technologies, strengthen local capabilities, and contribute to a competitive and sustainable automotive ecosystem. Since opening the FEV Riyadh office in December 2024, we have focused on localizing highly skilled talent and building partnerships that support the Kingdom’s Vision 2030,” Agochiya added.
Jim De Luca, CEO of CEER, noted that, “2026 is the year of CEER. We will reveal our first flagship models, visionary design, breakthrough technology, exhilarating performance, built for this region. This moment is more than a reveal; it is the start of a new era.”
