Ceer to source EDS for its EVs from Rimac Technologies

Press Release, November 11, 2024

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 17th 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. 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.” said James DeLuca, CEO, Ceer

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. 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.” said Mate Rimac Founder and CEO of Rimac Group

About Rimac Technology

Rimac Technology is a Tier 1 technology supplier to the automotive industry, fully owned and operated by the Rimac Group. The company is a leading provider of electrification technologies, with a strong focus on engineering, development, production, and supply of battery systems and electric drive units. Rimac Technology has recently expanded its portfolio by establishing the Rimac Energy division. This division is dedicated to advancing Battery Energy Storage Systems (BESS) technology, focusing on designing, developing, and manufacturing innovative stationary BESS solutions entirely within Europe. 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.