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.
James DeLuca, CEO of Ceer, stated, “We are thrilled to be the first business and major project in the GCC to collaborate with Rimac Technology in order to outfit Ceer flagship vehicles with the most cutting-edge high performance electric drive systems and solutions.” “As we fulfill our commitment to deliver world-class, high performance electric vehicles and revolutionize the automotive industry in Saudi Arabia, Rimac’s global reputation and expertise in designing cutting-edge performance powertrain systems perfectly align with our strategic objectives of partnering with global industry leaders.”
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 Ceer marks Rimac’s first collaboration in the GCC and another significant expansion of its product line.
Mate Rimac, the creator of the Rimac Group, stated, “The partnership with Ceer further solidifies Rimac Technology’s global electrification ambitions.” We’ve announced a number of significant alliances this year alone, including as those with Ceer and the BMW Group, which will enable us to produce tens of thousands of battery and electric drive systems for top OEMs throughout the globe. We have made critical investments in our production facilities in Croatia, including the Rimac Campus and related infrastructure, which will soon be running at full capacity, in anticipation of more interesting projects down the road.
