HYUNDAI Transys to Supply Integrated EDS to Saudi EV Manufacturer Ceer
HYUNDAI Transys, a leading future mobility company, will supply its independently developed integrated electric vehicle drive system (EDS) to Saudi-based Ceer, a global automotive company.
HYUNDAI Transys signed a contract with Ceer, a Saudi Arabian electric vehicle (EV) manufacturer, to supply an integrated EDS worth $2.18 billion at the HYUNDAI TRANSYS headquarters in Dongtan-myeon, Gyeonggi-do last week.
Ceer is an EV manufacturer established by Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF).
The signing ceremony was attended by key executives, including HYUNDAI Transys CEO Steve Yeo, Ceer CEO James DeLuca, Ceer Chief Purchasing Officer (CPO) Johnny Saldanha and Ceer Chief Technical Officer (CTO) Markus Leitner.
HYUNDAI TRANSYS’s integrated EDS is a three-in-one system that consists of a motor required to drive the EV, an inverter that converts power to control the motor’s torque, and a reduction gear that converts and transmits power into the torque and speed required for the vehicle.
Typical EDSs are made up of separate motors, inverters, and reduction gears, resulting in power loss between connecting cables and limitations in vehicle space configuration. However, HYUNDAI TRANSYS’s integrated EDS reduces size and weight and boasts excellent power efficiency, making it easier to design EVs and improving cost competitiveness.
James DeLuca said that this landmark partnership is another step forward in Ceer’s 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,” he added.
First Deal
This contract marks the first time HYUNDAI Transys will supply an EDS to a global automaker. The deal holds even greater significance as it demonstrates that the company’s competitiveness in the powertrain field, developed with over 30 years of accumulated technology, has been recognized in the global market not only for internal combustion engine (ICE) vehicles but also for hybrid and battery EVs (HEVs/BEVs) in this era of growing electrification.
HYUNDAI Transys is the only company worldwide that produces a full line-up of transmissions for internal combustion engines, including automatic, manual, dual-clutch, and continuously variables. The company has also established itself as the leading future mobility firm that produces key electrification components, including hybrid drive systems, EV reduction gears, integrated EDSs among others.
Steve Yeo said that based on their unrivalled technological prowess in powertrain technology, the company will further accelerate the expansion of its electrification component business, such as hybrid electric vehicle drive systems and integrated EDSs, in the global market.
HYUNDAI Transys is ranked 35th in the Top 100 Global Automotive Parts Suppliers in 2023 by the international automobile magazine Automotive News and has consistently maintained its position in the global top 30 since its integration in 2019.
Meanwhile, the Saudi Arabian government is pursuing the production of 500,000 EVs annually by 2030. It is known that Saudi Arabia aims to increase the EV penetration rate in its capital, Riyadh, to 30%. In addition, only EVs will be allowed to operate in NEOM, which is scheduled to be completed in 2030.
