PIF’s EV maker Ceer secures advanced drive systems through new partnership 

The agreement was formalized at a signing ceremony in Croatia attended by Ceer CEO James DeLuca and Rimac Technology CEO Mate Rimac. Ceer
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Updated 11 November 2024
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PIF’s EV maker Ceer secures advanced drive systems through new partnership 

  • Partnership represents a significant milestone for Rimac Technology as it expands its scope from low-volume, high-performance applications to large-scale projects
  • Venture marks Rimac’s first partnership in the GCC region

RIYADH: Saudi Arabia’s first electric vehicle brand, Ceer, is set to equip its flagship models with high-performance, fully integrated Electric Drive Systems through a newly announced partnership with Croatia-based Rimac Technology.   

The automobile manufacturer, a joint venture between Saudi Arabia’s Public Investment Fund and Foxconn, aims to leverage Rimac’s expertise in performance powertrain technology to enhance its upcoming EV lineup.  

The agreement was formalized at a signing ceremony in Croatia attended by Ceer CEO James DeLuca and Rimac Technology CEO Mate Rimac. 

“We are delighted to be the first company and large-scale project in the GCC to partner with Rimac Technology to equip Ceer flagship vehicles with the most advanced high-performance electric drive systems and solutions,” said DeLuca.

“Rimac’s global reputation and know-how in designing leading-edge performance powertrain systems aligns perfectly with our strategic objectives of partnering with global industry leaders as we fulfill our commitment to delivering world-class, high-performance electric vehicles and revolutionizing the automotive industry in Saudi Arabia,” he added. 

The partnership represents a significant milestone for Rimac Technology as it expands its scope from low-volume, high-performance applications, such as the Rimac Nevera and Aston Martin Valkyrie, to large-scale projects.  

Rimac has recently increased its focus on electrification partnerships, including a long-term collaboration with BMW to supply high-voltage battery systems.  

“The collaboration with Ceer further solidifies Rimac Technology’s global electrification ambitions,” said Rimac.  

“This year alone we’ve announced several key partnerships, including with the BMW Group and Ceer, which will produce tens of thousands of electric drive systems and battery systems for leading OEMs (original equipment manufacturers) worldwide.” he added. 

This venture marks Rimac’s first partnership in the Gulf Cooperation Council region, positioning it to support Ceer’s vision of advancing the EV market in Saudi Arabia. 


Saudi Arabia’s cultural sector is a new economic engine between Riyadh and Paris, says ambassador

Updated 25 January 2026
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Saudi Arabia’s cultural sector is a new economic engine between Riyadh and Paris, says ambassador

RIYADH: Culture has become a fundamental pillar in bilateral relations between France and Saudi Arabia, according to the French Ambassador to the Kingdom, Patrick Maisonnave.

Maisonnave noted its connection to the entertainment and tourism sectors, which makes it a new engine for economic cooperation between Riyadh and Paris.

He told Al-Eqtisadiah during the opening ceremony of La Fabrique in the Jax district of Diriyah that cultural cooperation with Saudi Arabia is an important element for its attractiveness in the coming decades.

La Fabrique is a space dedicated to artistic creativity and cultural exchange, launched as part of a partnership between the Riyadh Art program and the French Institute in Riyadh. 

Running from Jan. 22 until Feb 14, the initiative will provide an open workspace that allows artists to develop and work on their ideas within a collaborative framework.

Launching La Fabrique as a space dedicated to artistic creativity

The ambassador highlighted that the transformation journey in the Kingdom under Vision 2030 has contributed to the emergence of a new generation of young artists and creators, alongside a growing desire in Saudi society to connect with culture and to embrace what is happening globally. 

He affirmed that the relationship between the two countries is “profound, even cultural par excellence,” with interest from the Saudi side in French culture, matched by increasing interest from the French public and cultural institutions unfolding in the Kingdom.

Latest estimates indicate that the culture-based economy represents about 2.3 percent of France’s gross domestic product, equivalent to more than 90 billion euros ($106.4 billion) in annual revenues, according to government data. The sector directly employs more than 600,000 people, making it one of the largest job-creating sectors in the fields of creativity, publishing, cinema, and visual arts.

Saudi Arabia benefiting from French experience in the cultural field

Maisonnave explained that France possesses established cultural institutions, while Saudi Arabia is building a strong cultural sector, which opens the door for cooperation opportunities.

This comes as an extension of the signing of 10 major cultural agreements a year ago between French and Saudi institutions, aiming to enhance cooperation and transfer French expertise and knowledge to contribute to the development of the cultural system in the Kingdom.

He added that experiences like La Fabrique provide an opportunity to meet the new generation of Saudi creators, who have expressed interest in connecting with French institutions and artists in Paris and France.

La Fabrique encompasses a space for multiple contemporary artistic practices, including performance arts, digital and interactive arts, photography, music, and cinema, while providing the public with an opportunity to witness the stages of producing artistic works and interact with the creative process.