# U&I joins Edison Motors consortium to acquire SsangYong Motor

Medical device maker U&I has joined a consortium led by Edison Motors to acquire SsangYong Motor, which is under bankruptcy court management. Edison EV plans to acquire U&I shares worth about 15.5 billion won ($12.89 million) next month.

- Type: Acquisition
- Announced: 2022-02-24
- Where: South Korea
- Value: $12.9M (15.5B KRW)
- Status: announced
- Products: electric vehicles, battery inspection equipment, EV chargers
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [U&I Corp](https://endata.com/companies/28287.md) (investor)
- [SsangYong Motor Company](https://endata.com/companies/31313.md) (target)
- [Edison Motors](https://endata.com/companies/61248.md) (acquirer)

## Sources

- [pulse.mk.co.kr](https://pulse.mk.co.kr/news/all/10231394), 2022-02-24: "The Edison Motors consortium on Thursday said that Edison Motors, Edison EV, and U&I have signed a multi-party business agreement to cooperate on the acquisition."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.