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Hyundai Transys |
[Alpha Biz= Reporter Kim Jisun] Hyundai Transys has announced a significant deal to supply integrated Electric Drive Systems (EDS) worth 3 trillion KRW to Ceer, a Saudi Arabian electric vehicle (EV) manufacturer established through a joint venture between the Saudi Public Investment Fund (PIF) and Taiwan's Foxconn. Ceer is currently constructing an EV manufacturing plant with the goal of commencing mass production next year.
Hyundai Transys, a Hyundai Motor Group subsidiary specializing in powertrains and seat manufacturing, disclosed on the 12th that the agreement was signed at their headquarters in Dongtan. The contract stipulates the supply of EDS to Ceer over a period of ten years starting from 2027.
Last year, Hyundai Transys reported sales of 11.6939 trillion KRW and an operating profit of 116.9 billion KRW, with powertrains, including transmissions, accounting for 68% of its sales as of the end of last year. The company has independently developed its electric drive system, and this agreement with Ceer marks its first supply contract with a global automaker for this technology.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
