IN DRIVE
PIF-owned CEER inks $2 billion deal with Hyundai in step toward EV production
South Korean parts supplier to supply the drive systems for cars to be assembled in the kingdom
A Lucid Sapphire electric model car at the Geneva International Motor Show. (Photo: Getty Images)
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Saudi Arabia’s Public Investment Fund is continuing its dogged drive to create an electric vehicle market in the kingdom.
The sovereign wealth fund’s EV-maker CEER announced on Tuesday a $2.2 billion deal with Hyundai Transys for the South...