Germany-based automotive engineering services provider FEV and Saudi electric vehicle (EV) maker CEER have signed a memorandum of understanding (MoU) to deepen cooperation on the Kingdom’s EV plans.
The signing took place at the PIF Private Sector Forum, hosted by the Public Investment Fund (PIF). The PIF – a huge Saudi sovereign wealth fund – is also a backer of CEER.
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The forum convenes public- and private-sector stakeholders to encourage collaboration, investment, and sustainable growth across priority industries.
Under the agreement, the companies will explore ways to combine their capabilities to accelerate technology development.
They will also work to strengthen local expertise and support the sustained expansion of Saudi Arabia’s automotive and mobility ecosystem.
FEV Asia president Mayank Agochiya said: “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.
“Since opening the FEV Riyadh office in December 2024, we have focused on localising highly skilled talent and building partnerships that support the Kingdom’s Vision 2030.”
Saudi Arabia’s Vision 2030 is a national strategy to reduce reliance on oil by promoting innovation, investment, and private-sector development.
It also aims to improve quality of life and position the country as a global centre for tourism, technology, and sustainable development.
CEER CEO Jim De Luca added: “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.”
Separately, FEV last year introduced CogniSafe, an AI-enabled driver monitoring system designed to detect driver fatigue, distraction and inattention in real time.
The company said the system uses deep learning and computer vision technologies to maintain driver alertness under varying conditions.
