# Hyundai Transys secures $2.2B contract with Ceer for EV drive systems

Hyundai Transys has secured a USD 2.2 billion contract to supply integrated EV drive systems to Ceer, Saudi Arabia's first domestic EV manufacturer. The agreement was formalized at Hyundai Transys' headquarters.

- Type: Contract
- Announced: 2024-07-02
- Where: South Korea
- Value: $2.20B
- Status: completed
- Products: integrated EV drive systems (motor, inverter, reduction gear)
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Ceer](https://endata.com/companies/30631.md) (customer)
- [Hyundai Transys](https://endata.com/companies/39515.md) (supplier)

## Sources

- [autoevtimes.com](https://autoevtimes.com/hyundai-transys-secures-2-2b-contract-for-saudi-ev-drive-systems/), 2024-07-02: "Hyundai Transys has secured a substantial USD 2.2 billion contract to supply advanced integrated electric vehicle (EV) drive systems to Centre, Saudi Arabia’s first domestic EV manufacturer."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.