Riyadh - (AFP) - Saudi Arabia on Thursday launched its first brand to manufacture electric cars , as part of a broader initiative to diversify the economy of the world's largest oil exporter.

And the official news agency, SPA, reported that the company, called "Sir", will contribute to achieving "the Kingdom's goals in reducing carbon emissions and preserving the environment in order to promote sustainable development."

She added that the "Sir" company is a joint venture between the Public Investment Fund and "Foxconn", which "will develop the electrical system for cars."

The agency indicated that “Sir” will work on “designing, manufacturing and selling electric cars equipped with advanced technical systems, such as the self-driving feature, in the Kingdom and the Middle East region, including sedans and SUVs,” noting that the company will provide “30,000 jobs in general.” direct and indirect by 2034.

It is scheduled that the "Sir" cars will be available for sale during the year 2025, according to "SPA".

Saudi Crown Prince Mohammed bin Salman said on Thursday, "The launch of the 'Sir' company does not only aim to build a brand of cars in the Kingdom, but also supports the empowerment of multiple strategic sectors that support the development of the national industrial system, and contribute to attracting local and international investments," considering that one of This would "create many job opportunities for local competencies, and provide new opportunities for the private sector, in a way that contributes to increasing the Kingdom's gross domestic product during the next decade."