KG Mobility to acquire South Korean EV maker Edison Motors
By Will Pulson - 21st May 2023
South Korea - SUV-maker, KG Mobility Corporation, headquartered in Pyeongtaek and until recently known as Ssangyong Motor Company, has been confirmed as the preferred bidder to acquire local electric bus and truck manufacturer, Edison Motors Company of Sudong-myeon, Gyeongsangnam-do province.
The move to acquire Edison Motors is part of KG Mobility’s new parent company’s strategy to expand into the global automotive market, particularly in the fast-growing electric vehicle (EV) segment. KG Group, a South Korean steel and chemicals producer, based in Seoul, only completed the acquisition of bankrupt Ssangyong Motor last October.