Saudi Arabia's electric vehicle startup Ceer, backed by the country's Public Investment Fund, has launched its first two EV models with plans for five more by 2030. Ceer aims to compete directly with Tesla and Chinese EV manufacturers, targeting a share of the growing global electric vehicle market. The company plans to offer a mix of EVs, hybrids, and gas-powered cars to diversify its lineup. Success will require significant long-term investment and the ability to capture market share from established players like Tesla, which remains the leading global EV brand despite recent sales challenges.
Tesla shares on Pluang are trading at USD 379.51, up 1.15% as of Sep 23, 2026 02:42 WIB, showing resilience despite new competition from Saudi Arabia's Ceer. Tesla's market cap stands at $1.48 trillion, reflecting its dominant position in the electric vehicle sector. The article highlights Ceer's ambitious plans to challenge Tesla and other EV makers, while on Pluang, investor sentiment remains largely bullish with 67% buy orders.
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