Semisysco-Edison Motors Hold Investment Agreement Ceremony... "Expecting Synergy in Electric Vehicle Business"

[Asia Economy Reporter Jang Hyowon] SemiSysco, a KOSDAQ-listed company (CEO Lee Soonjong), announced on the 18th that it signed a Memorandum of Agreement (MOA) for successful business promotion with Edison Motors at its headquarters in Suwon.

(From left) Lee Soon-jong, CEO of Semisysco, Kang Young-kwon, Chairman of Edison Motors. / Photo by Semisysco

Through this agreement, both companies expect significant synergy in strengthening existing businesses and cooperating in the development of new businesses. As a result, Edison Motors plans to start sales of electric trucks and electric buses through SemiSysco's nationwide network.

Additionally, SemiSysco plans to expand its electric vehicle portfolio, including the advancement of the EV Z using Edison Motors' core technologies such as the driving motor, Battery Management System (BMS), and body lightweighting technology, as well as electric passenger sport utility vehicles (SUVs).

Founded in October 2015, Edison Motors manufactures and sells CNG buses, low-floor buses, and electric buses. Last year, it ranked first in electric bus market share in Seoul and is accelerating the expansion of its electric mobility business based on its proprietary technology.

SemiSysco officially launched the two-seater compact electric vehicle EV Z (Zeta) in September last year, and it is currently sold through a network of over 20 locations nationwide.

Meanwhile, SemiSysco, established in 2000 as a semiconductor and OLED display solution specialist, has entered the electric vehicle business based on its world-class technology and know-how since its KOSDAQ listing in 2011, leading the popularization of electric vehicles.

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