Ceer Motors, Saudi Arabia's first homegrown EV brand, unveiled a premium sedan and SUV on September 21, with deliveries promised for March 2027 from a plant near Jeddah. Majority-owned by the Public Investment Fund (PIF, the kingdom's sovereign wealth fund), Ceer will compete in the luxury segment with Lucid, the struggling Arizona-based EV maker in which PIF holds about 58%. Analysts say the plant's capacity far exceeds Saudi demand, so exports will be essential, pitting Ceer against Chinese rivals such as BYD, which sells about 60% of electric cars in the Middle East.