Saudi Arabia’s pioneering electric vehicle brand, Ceer, has finalized an SR8.2 billion ($2.18 billion) agreement with South Korea-based Hyundai Transys to supply advanced “EV Drive Systems” for its vehicles. This deal, highlighted by Ceer in a recent press release, introduces Hyundai Transys’ integrated Electric Drive System—a three-in-one solution that incorporates a propulsion motor, inverter, and reduction gear. This innovative system reduces power loss from separate components and optimizes vehicle space configuration, marking a significant leap forward in electric vehicle technology.
James DeLuca, CEO of Ceer, praised the partnership as a crucial advancement for the Saudi automotive sector, expressing excitement over integrating Hyundai Transys’ cutting-edge technology. This collaboration aims to enhance Ceer’s position as a global leader in the EV market by reducing vehicle size and weight, improving power efficiency, and streamlining the design process. Hyundai Transys CEO Steve Yeo also voiced confidence in the project’s success, anticipating a long-term fruitful partnership. Launched in November 2022 by Crown Prince Mohammed bin Salman, Ceer aims to contribute SR30 billion to Saudi Arabia’s GDP by 2034, attract significant foreign investment, and create up to 30,000 jobs, solidifying its role in driving economic growth and job creation in the Kingdom.