The Public Investment Fund (PIF) and Hon Hai Precision Industry Co. (Foxconn) jointly own Saudi Arabia’s first electric vehicle (EV) brand, Ceer. The two companies have partnered with Rimac Technology to supply high-performance, fully integrated Electric Drive Systems (EDS) for Ceer’s upcoming flagship range of EVs. On October 17, CEER Motors CEO James DeLuca and Rimac Technology CEO Mate Rimac attended a signing ceremony at Rimac in Croatia to formally announce the partnership.
Key Takeaways From The New Partnership:
- As the first OEM in Saudi Arabia and the Middle East, Ceer is producing top-notch EVs.
- Rimac Technology, which specializes in electrification technology such as electronics, drive systems, and battery systems, will provide Ceer flagship vehicles with high-performance, fully integrated electric drive systems.
The Rimac Technology company has further evolved from high-performance, limited-volume applications, such as the Rimac Nevera, Pininfarina Battista, Aston Martin Valkyrie, and Koenigsegg Regera, to large-scale projects with this relationship with Ceer.
Rimac Technology has signed many contracts for mid-to-large volume European OEM projects and announced earlier this year a long-term partnership with the BMW Group to supply high-voltage battery systems to its passenger automobiles.
With an emphasis on its software and electric powertrain systems, this most recent endeavor with Saudi Arabia’s first electric vehicle (EV) brand mark Rimac’s first collaboration in the GCC and another significant expansion of its product line.
Key Comments
“We are delighted to be the first company and large-scale project in the GCC to partner with Rimac Technology in order to equip Ceer flagship vehicles with the most advanced high performance electric drive systems and solutions,” said Ceer CEO, James DeLuca. “Rimac’s global reputation and know-how in designing leading edge performance powertrain systems aligns perfectly with our strategic objectives of partnering with global industry leaders as we fulfill our commitment to delivering world-class, high performance electric vehicles and revolutionize the automotive industry in Saudi Arabia.”
“The collaboration with Ceer further solidifies Rimac Technology’s global electrification ambitions,” said Mate Rimac, founder of the Rimac Group. “This year alone we’ve announced several key partnerships, including with the BMW Group and Ceer, which will result in the production of tens of thousands of electric drive systems and battery systems for leading OEMs worldwide. With more exciting projects in the pipeline, we’ve strategically invested in our production facilities in Croatia, including the Rimac Campus and supporting infrastructure, which will soon be operating at full capacity.”
More information regarding the partnership and its scope will be made public later by the two parties.
