Saudi CEER signs deal with Hyundai

[Batteryman]

2.18 billion deal for Hyundai to supply CEER, next Lucid will announce deal with Hyundai to supply Genesis vehicles . That might be a 1-2 billion dollar deal.

 

[hydbob]

2.18 billion deal for Hyundai to supply CEER, next Lucid will announce deal with Hyundai to supply Genesis vehicles . That might be a 1-2 billion dollar deal.

Wasn't this announced a year ago? Or is this something new?

 

[xponents]

Wasn't this announced a year ago? Or is this something new?

I think this is a separate deal? Searching it up does reveal one result from July last year, but the majority of results are from today. I'm taking it with a grain of salt until a more "reputable" source posts it.

 

[Batteryman]

I think this is a separate deal? Searching it up does reveal one result from July last year, but the majority of results are from today. I'm taking it with a grain of salt until a more "reputable" source posts it.

Looks like it’s legit.

Saudi Arabia’s Ceer signs $2bn deal with Hyundai Transys to supply EV drive systems

RIYADH: Saudi Arabia’s pioneering electric vehicle brand, Ceer, has secured a monumental SR8.2 billion ($2.18 billion) agreement with Hyundai Transys, a South Korea-based company, to supply “EV Drive Systems” for its vehicles. Ceer stated in a press release that Hyundai Transys’ integrated...

www.arabnews.com

 

[fadooly]

I know for fact that Saudi is intending to build a supply chain in Saudi for manufacturing of cars and make all essential parts in kingdom

Also gearing up for the midsize car

Not to mention huge incentive for government officers up to 50% of the cost of the car for any one who purchases a lucid

Still there is no incentive for the public but I am guessing it is coming up with the midsize

This will open huge demand for lucid

 

[Buffalo Bob]

2.18 billion deal for Hyundai to supply CEER, next Lucid will announce deal with Hyundai to supply Genesis vehicles . That might be a 1-2 billion dollar deal.

I must be missing something. How on earth is this good news, given Lucid's state-of-the-art EV drive system, and its existing PIF relationship?

 

[Lucken]

I must be missing something. How on earth is this good news, given Lucid's state-of-the-art EV drive system, and its existing PIF relationship?

I was thinking the same thing. They’re either hedging their bets or looking for a lower price point…or both. Either way it looks disappointing.

 

[hydbob]

CEER is the lower price point models, think sub 30k

 

[borski]

I was thinking the same thing. They’re either hedging their bets or looking for a lower price point…or both. Either way it looks disappointing.

Neither. Lucid’s batteries are presently expensive, and they’re unlikely to supply parts for a 30k car. Any market needs a spectrum.

 

[xponents]

I don't really think Lucid motors (right now) are cheap enough to be put into mainstream cars, such as those proposed by CEER. When I inquired about it, I was told a crate motor would cost about 6-8k (so make that about 5k for a bulk automaker). Hyundai motors are likely far cheaper and more easily used by CEER. I do have a feeling that Lucid would advise the CEER project, as their efficiency teachings could do a great job of bringing prices down.

 

[Lucken]

Neither. Lucid’s batteries are presently expensive, and they’re unlikely to supply parts for a 30k car. Any market needs a spectrum.

Did not realize the price point until Bob mentioned it. Now it makes sense.

 

[Pwmac]

I don't really think Lucid motors (right now) are cheap enough to be put into mainstream cars, such as those proposed by CEER. When I inquired about it, I was told a crate motor would cost about 6-8k (so make that about 5k for a bulk automaker). Hyundai motors are likely far cheaper and more easily used by CEER. I do have a feeling that Lucid would advise the CEER project, as their efficiency teachings could do a great job of bringing prices down.

Lucid sells crate motors?

 

[xponents]

Lucid sells crate motors?

No, that's the figure it would cost if they were to sell them (they don't). I do wish they did... the potential for EV swaps would be amazing!

 

[Alex]

I would think Lucid could bid there smaller racetrack motor. Doesn't smaller mean cheaper?

https://ir.lucidmotors.com/news-releases/news-release-details/lucid-unveils-state-art-motorsports-electric-drive-unit-taking