Edison Motors, an electric vehicle company seeking to acquire SsangYong Motor, has secured two PEF operators as financial investors (FI), easing concerns about its financing capability and forming a two-runner race with SM Group, another potential buyer of the troubled carmaker.Edison Motors signed
A total of nine companies have submitted a letter of intent (LOI) in a tender for SsangYong Motor. The bidders included SM Group, which places 38th in the Korean business group rankings. It is expected to form a three-way battle with Edison Motors and Cardinal One Motors.Ernst & Young Han Young, the
Miniature electric cars are gaining popularity. At present, three companies are competing in this segment, but other companies are planning to enter it as demand for ultra-compact electric cars are on the rise.The Korea Post announced on May 20 that it would increase the number of miniature electric