Semisysco Completes Participation in Edison Motors' Paid-in Capital Increase, a Specialist Electric Bus Company

[Asia Economy Reporter Hyunseok Yoo] Semisysco, the only domestic manufacturer of electric compact cars, announced on the 14th that it has completed the acquisition of 500,000 new shares for 30 billion KRW by participating in the third-party allotment capital increase of Edison Motors Co., Ltd., a specialized electric bus company.

Through this capital increase participation, the strategy is to advance electric vehicle-related technologies by utilizing Edison Motors' electric vehicle technologies such as drive motor solutions, Smart Battery Management System (Smart BMS), and electronic control technology (next-generation integrated vehicle control).

If Edison Motors acquires Ssangyong Motor through the main bid scheduled for the 15th, it is expected to accelerate the diversification of its electric vehicle portfolio, including passenger cars and sports utility vehicles (SUVs).

A Semisysco official stated, “Through this equity acquisition, the company will not only receive support for Edison Motors' outstanding technologies (battery packs, motors, and electronic control) but also expect synergy creation in all areas such as marketing, sales, and finance. Edison Motors has secured funds to invest in parts procurement and new businesses, so future performance improvement is anticipated.” He added, “This has laid the foundation to grow into a complete electric vehicle company.”

Meanwhile, Semisysco plans to change its company name to ‘Edison EV Co., Ltd.’ at an extraordinary general meeting of shareholders to be held on the 13th of next month to create synergy.

This content was produced with the assistance of AI translation services.