Saudi Arabia wants to become a force in electric-vehicle manufacturing

autocratic crown prince, Muhammad bin Salman , last year launched Ceer, the kingdom’s first electric-vehicle brand, his ambition was clear. His country was not just building a new automotive company, he gushed, it was “igniting a new industry”. Saudi Arabia is powering up its efforts to become a force in manufacturings. If this project is a success, it could mark a significant step towards diversifying its economy away from oil. But big potholes remain.

Saudi Arabia is making some progress. Hyundai, a big South Korean carmaker, has agreed to build a factory to assemble its vehicles in the country. Tesla, the world’s largest fullproducer, is said to be in talks about setting up a manufacturing facility in the kingdom, though the company’s boss, Elon Musk, has denied the rumours. The Saudis have signed a $5.

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