On Monday, the Saudi Crown Prince, Prince Mohammed bin Salman, launched the first model of the “Sir” national automobile manufacturing company, under the name “Exobot,” in a strategic step aimed at developing the automotive industry sector in the Kingdom and promoting the diversification of sources of income away from oil.
The new car is available in both sedan and four-wheel drive categories, forming the first in a fleet that includes seven versions that Sair plans to launch successively over the next five years, with a variety of sizes and propulsion systems.
The cars will be produced locally within the “Sir” Industrial Complex, located within the King Salman Automotive Industry Complex in King Abdullah Economic City, while they were designed and engineered by local competencies in accordance with the latest international standards, with their design identity inspired by the Saudi environment and culture.
On the economic level, SIR is expected to contribute more than 30 billion Saudi riyals (equivalent to about 8 billion dollars) to the gross domestic product, in addition to improving the trade balance by about 80 billion riyals, and creating thousands of direct and indirect job opportunities by 2034.
It is noteworthy that the Saudi Public Investment Fund established the “Sir” company in 2022, with the aim of launching the first national brand specialized in the automobile industry, supporting the localization of this vital sector, and attracting qualitative investments to the national economy.
