Korean brand Edison Motors is expected to get out SsangYong for a rather measly £170 million, with the offer set to be finalised by the end of October.
During the past year, the business has struggled to make ends satisfy and, after failing to satisfy the repayments on one of its loans, it started trying to find a bidder to take over the business.
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Currently, Edison Motors is understood for building electric as well as plug-in hybrid buses, however the firm has plans for expansion, with a line-up of electric traveler vehicles due for introduce by 2030 – the very first of which will be on the road as early as next year.
New SsangYong X200 SUV previewed in teaser sketches
Edison Motors has huge aims, with a specified goal of “overtaking Tesla Motors”.
The company’s very first EV, called the wise S, is created to deal with whatever from the Tesla design S to the Mercedes EQS. It’ll have a tri-motor powertrain with an output of 644bhp, which Edison Motors states will be sufficient for 0–62mph time of less than 2.5 seconds. It’ll be powered by a 100kWh battery pack, using a maximum variety of 641km (398 miles).
Once that’s on the road, the business will introduce the wise E, which it states is a mid-sized vehicle worth around $35,000 (around £25,000) created to “overtake the Mercedes E-Class.”
That’ll be complied with by the wise A – an entry-level EV that Edison Motors states will topple the Tesla design 3 with a declared starting cost of just $20,000 (around £14,500).
Naturally, there are plans for an SUV, to be called the wise X, which will be aimed at Tesla’s design X. Edison business really hopes to undercut the competition on price, though, with a start-point of £74,000.
Edison Motors won’t stop at that, though, since the business even has plans to introduce electric aircraft. The firm states its method will have a five-seat “electric flying vehicle” in the air as early as 2024, with a five-seat electric jet complying with in 2027.
What do you believe the future holds for SsangYong as well as Edison Motors? let us understand in the comments below…