Hyundai Transys Signs Supply Contract with Saudi Electric Vehicle Company
Supply Worth 3 Trillion KRW over 10 Years Starting 2027
Motor, Inverter, Reducer... Integrated EV Drive System
Hyundai Transys will supply an integrated electric vehicle drive system (EDS) to Saudi Arabian electric vehicle manufacturer 'CEER'. This marks the first time the company has supplied its independently developed drive system to an overseas automaker, signaling the start of global orders.
On the 12th, Hyundai Transys announced that it signed a 10-year contract worth 3 trillion KRW to supply integrated electric vehicle drive systems to CEER, starting in 2027, at Hyundai Transys headquarters located in Dongtan, Gyeonggi Province.
Hyundai Transys' integrated electric vehicle drive system is a product that combines ▲ the motor necessary for electric vehicle propulsion ▲ the inverter that converts power and controls the motor's torque ▲ and the reducer that converts and delivers power to the vehicle at the required torque and speed into a single unit.
CEER is an electric vehicle manufacturer established by the Saudi Public Investment Fund (PIF). The drive system supplied by Hyundai Transys this time is expected to be installed in all CEER models, including next-generation sports utility vehicles (SUVs), sedans, and coupes.
A Hyundai Transys official explained, "This contract is the first case of Hyundai Transys supplying electric vehicle drive systems to a global automaker," adding, "It is the result of global recognition of our competitiveness in the electrified powertrain sector, based on over 30 years of accumulated powertrain technology."
Yeosu-dong Hyundai Transys President (left in photo) and James DeLuca, CEO of Sear, are taking a commemorative photo after signing a supply contract for an integrated electric vehicle drive system on the 10th. [Photo by Hyundai Transys]
Typical electric vehicle drive systems install the motor, inverter, and reducer separately, resulting in significant power loss between connecting cables and limitations in vehicle body space configuration. Hyundai Transys' integrated system has the advantages of reduced size and weight and excellent power efficiency. This enhances the ease of electric vehicle design and cost competitiveness.
Yeosu Dong, President of Hyundai Transys, emphasized, "Based on our unparalleled technology in the powertrain field, we will accelerate the expansion of electrified component businesses such as hybrid drive systems and integrated electric vehicle drive systems in the global market."
The Saudi Arabian government is promoting the production of 500,000 electric vehicles annually by 2030. The electric vehicle adoption rate in the capital Riyadh is planned to be raised to 30%, and Neom City, scheduled for completion in 2030, is expected to operate exclusively electric vehicles.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
