Edison Motors to acquire Ssangyong
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By Will Pulson - 22nd December 2021
South Korea – South Korean electric vehicle manufacturer, Edison Motors Company is set to take over Ssangyong Motor, saying it plans to turn around the bankrupt SUV-maker within three to five years by focusing on electric vehicles (EVs).
Edison Motors, based in Hamyang in southern South Korea, is leading a consortium that includes Korea Corporate Governance Improvement (KCGI) fund, Keystone Private Equity and Semisysco, to take over Ssangyong. It has been selected as the preferred bidder for the company and a formal takeover announcement is expected soon after the company completes its due diligence.
