Ceer Signs SAR 8.2 billion (USD 2.18 billion) Contract for the Supply of Hyundai Transys’ Advanced Electric Vehicle Drive Systems
Ceer Signs SAR 8.2 billion (USD 2.18 billion) Contract for the Supply of Hyundai Transys’ Advanced Electric Vehicle Drive Systems
Ceer, Saudi Arabia’s first electric vehicle (EV) brand and original equipment manufacturer (OEM) has signed a SAR 8.2 billion (USD 2.18 billion) partnership with Hyundai Transys for the supply of innovative Electric Vehicle Drive Systems (EDS) for its vehicles.
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“This landmark partnership is another step forward in our mission to ignite the Saudi automotive sector. In this journey, we are delighted to partner with Hyundai Transys, who join our list of globally leading partners, allowing us to integrate this cutting-edge EDS technology in our world-class electric vehicles” said Ceer CEO James DeLuca.
Unlike typical EDS, which comprise separate motors, inverters, and reduction gears, resulting in power loss between connecting cables and limitations in vehicle space configuration, Hyundai Transys’s integrated EDS is a three-in-one system that combines a motor required to drive the EV, an inverter, and a reduction gear, which converts power to control the motor’s torque.
This advanced system significantly reduces size and weight while enhancing power efficiency, thereby streamlining the EV design process and boosting cost competitiveness.
“With this agreement, we are confident of the success of this project through closer cooperation between our two companies and we look forward to developing this relationship further for a long-term partnership,” said Steve Yeo, CEO of Hyundai Transys.
