Ceer and Hyundai Transys Announce SAR 8.2 Billion Strategic Alliance to Advance Electric Mobility in Saudi Arabia

11 June 2024: Saudi Arabia's first EV brand and original equipment manufacturer (OEM), Ceer, has entered into a SAR 8.2 Billion (USD 2.18 Billion) partnership with Hyundai Transys. This collaboration is set to enhance Ceer's vehicle lineup with advanced Electric Vehicle Drive Systems (EDS) from Hyundai Transys.

The integrated EDS from Hyundai Transys is a three-in-one system, merging a motor, an inverter, and a reduction gear. This combination is crucial for driving the EV, converting power, and controlling the motor's torque.

In an official press release by Ceer, James DeLuca, CEO, Ceer stated, “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”

In the press release, Steve Yeo, CEO, Hyundai Transys was quoted saying, “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,”

This cutting-edge technology reduces the overall size and weight of the components while increasing the power efficiency. These improvements simplify the EV design process and enhance cost competitiveness, positioning Ceer favourably in the growing EV market.

The partnership between Ceer and Hyundai not only strengthens Ceer's position in the EV market but also sets a precedent for future technological advancements and strategic alliances in the region. As the automotive sector evolves, Ceer and Hyundai Transys are well-positioned to lead the charge in driving forward the future of electric mobility.