Ceer Partners with Rimac Technology for High-Performance Electric Drive Systems

• Ceer is building world-class EVs as the first OEM in Saudi Arabia and the Middle East
• Rimac Technology is specializing in electrification technologies, including drive systems, electronics, and battery systems that will be supplying high-performance, fully integrated Electric Drive Systems for Ceer flagship models

ZAGREB, Croatia, Nov. 11, 2024 /PRNewswire/ -- Ceer, Saudi Arabia's first electric vehicle (EV) brand, a joint venture between the Public Investment Fund (PIF) and Hon Hai Precision Industry Co. (Foxconn), has signed a partnership with Rimac Technology for the supply of high-performance, fully integrated Electric Drive Systems (EDS) for its upcoming flagship range of EVs. The collaboration was made official at a signing ceremony held at Rimac in Croatia on 17^th October, attended by Rimac Technology CEO Mate Rimac and CEER Motors CEO James DeLuca.

"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."

This partnership with Ceer signifies a further evolution of the Rimac Technology business from limited-volume, high-performance applications – including the Rimac Nevera, Pininfarina Battista, Aston Martin Valkyrie and Koenigsegg Regera – to large-scale projects. Earlier this year, Rimac Technology revealed a long-term collaboration with the BMW Group to supply high-voltage battery systems to its passenger cars and has signed multiple agreements for mid-to-large volume European OEM projects. This latest venture with Ceer, Rimac's first partnership in the GCC, represents another substantial scaling up of Rimac Technology products, focused on its electric powertrain systems and software portfolio. 

"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."

The two partners will release more details about the partnership and its scope at a later stage. 

About Ceer – www.ceermotors.com

Ceer is the first Saudi automotive brand to produce electric vehicles in Saudi Arabia and will design, manufacture, and sell a range of vehicles for consumers in Saudi Arabia and the MENA region, including sedans and sports utility vehicles. A part of PIF's strategy to diversify Saudi Arabia's GDP growth by investing in promising growth industries, Ceer will attract over US$150 million of foreign direct investment, and create tens of thousands of direct and indirect jobs. Ceer is projected to directly contribute US$8 billion to Saudi Arabia's GDP by 2034. The company, which is a joint venture between PIF and Hon Hai Precision Industry Co. ("Foxconn"), will license component technology from BMW for use in the vehicle development process. Foxconn will develop the electrical architecture of the vehicles, resulting in a portfolio of products that will lead in the areas of infotainment, connectivity, and autonomous driving technologies. Each vehicle will be designed and manufactured in Saudi Arabia and tested to the highest global automotive quality control and safety standards.

About Rimac Technology - www.rimac-technology.com/ 

Rimac Technology is a Tier 1 technology supplier to the automotive industry, fully owned by the Rimac Group. It specializes in electrification technologies, including battery systems and electric powertrain systems, as well as electronic control units and accompanied SW. Rimac Technology covers the whole process of creation from concepts to prototypes and through to series production. Rimac Technology is headquartered in Croatia, with offices in the UK, and currently employs more than 1,400 employees, and collaborates on projects with a number of the world's most renowned OEMs.

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