Taiwanese contract manufacturer Foxconn is partnering with Saudi Arabia’s sovereign wealth fund to jointly make electric vehicles with plans to begin selling their first consumer car model in 2025. The EV brand, called Ceer, will be the first one of its kind in Saudi Arabia, targeting consumers both in the country itself and also from the wider Middle East and North Africa region, the Public Investment Fund told Reuters. In February, Apple’s manufacturing partner formed an alliance with Thailand’s energy group PTT with plans to set up a production facility with an annual capacity of 50,000 vehicles and begin car production in 2024. [Reuters]