Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP NEWS AGENCY) = KG Mobility announced that Edison Motors received approval for the rehabilitation plan from the court at the stakeholder meeting for the hearing and resolution of the rehabilitation plan held at the Changwon District Court on the 25th.

At the stakeholder meeting, 100% of the rehabilitation secured creditors and 74.19% of the rehabilitation creditors agreed to the rehabilitation plan, and it was passed with a consent rate that exceeded the legal approval requirements.

As a result, Edison Motors will be able to push for the normalization of the company in earnest by ending the rehabilitation procedure early in about 10 months since it applied for the rehabilitation procedure in November 2022.

As a plan to normalize management, Edison Motors plans to grow and develop into an eco-friendly comprehensive commercial vehicle company by focusing on expanding its product lineup to include medium-sized buses and large intercity buses, strengthening collaboration with KG Mobility in R&D and purchasing sourcing, improving profitability by increasing efficiency and increasing sales volume by expanding the global market.

By Soon-ki Lee(s8789@nspna.com) and Eun-tae Kang(keepwatch@nspna.com)

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